You are provided with the following summarised information relating to Times Limited, a wheel caps and rims distributor: Statement of Financial Position (balance sheet) as at 31 December 2022: Assets Non-current assets Cash Inventory Trade debtors TOTAL ASSETS Equity Shareholders' Equity Liabilities Long term loan (15% p.a.) Accounts payable Dividends payable Sales Less Cost of Sales Gross Profit 2022 R Operating profit Interest expense Profit before tax 936 000 168 000 432 000 288 000 1 824 000 408 000 216 000 48 000 TOTAL EQUITY AND LIABILITIES 1 824 000 Statement of Comprehensive Income (income statement) as at 31 December 2022: 2022 1 152 000 R 4 800 000 3 120 000 1 680 000 720 000 48 000 672 000 Income taxation Net profit for the year Additional Information: 1. All purchases and sales of inventories are on credit. Inventories on 31 December 2021 amounted to R300 000. 2. The authorised share capital consists of 500 000 shares of which 300 000 were issued. 3. Interim dividends paid during the year amounted to R113 280. 4. The shares of Times Limited were trading at 350 cents per share on the stock/securities exchange on 31 December 2021. 5. The following ratios are available as at 31 December 2022 and 2021: Debtors collection period Return on equity Inventory turnover rate Acid test ratio Debt to Equity Current ratio Creditors payment period 2022 21.9 days 35% 8 times 1.73:1 35.42% 1.1.2 Creditor payment period 1.1.3 Earnings retention ratio 1.1.4 Return on capital employed 1.1.5 Price earnings ratio 1.1.6 Current ratio 268 800 403 200 ? ? 2021 37.6 days 28% 11.2 times 1.42:1 24.56% 2.15:1 35 days Required: 1.1. Use the information provided above to calculate the following ratios for 2022. Where applicable, round off answers to two decimal places. 1.1.1 Turnover to net assets (4) (4) (3) (3) (3) (3)