The following information relates to Arte s Gallery The owner P
The following information relates to Arte’s Gallery. The owner, P Arte, is concerned about the profitability and liquidity of the business.

. :.
ARTE’S GALLERY
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2012
Capital P. Arte 1 July 2011 ............................$192 900
Less Loss ...........................................................84 300
108 600
Less Drawings ...................................................4,000
Capital P Arte 30 June 2012.........................$104 600


Additional Information:
All Sales were on credit.

Required:
Calculate the following ratios for 2011 and 2012. Show all calculations. (Where an average figure is not available, add this as a comment.)
Profit Margin
Gross Profit margin
Current Ratio
Quick Ratio
Receivables Turnover
Average Collection Period
InventoryTurnover
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