You have obtained the following information in respect of Village Heights Limited: 000 E000 5800 Sales (all credit) Cost of sales 2296 Administration expenses Distribution costs 890 300 Interest paid 124 Provision for taxation 165 Proposed dividend 2000 Value of fixed assets 1500 Opening stock Closing bank balance Issued ordinary share capital (E1) 250 Closing stock 302 Closing debtors 626 190 Closing creditors 275 100 (a) Prepare a summarised income statement (profit and loss account) for the year. marks (b) Calculate the following ratios: [4 (i) Gross profit to sales percentage Operating profit (PBIT) as a percentage of sales [2 marks] (ii) [2 marks] [2 marks] (ii) Dividend cover (iv) Dividend per share [2 marks] [2 marks] [2 marks] [2 marks (v) The accounts receivable (debtor) collection period in days (vi) Inventory (stock) turnover (vii) The total expenses as a percentage of sales 2 marks The acid test ratio (vii)