Dale is in business as a sole trader. You are presented with the following summarized information relating to his business for the year to 31 October 20X2:

Required
a. Based on the above information, calculate eight recognized accounting ratios.
b. List what additional information you would need in order to undertake a detailed ratio analysis of Dale's business for the year to 31 October 20X2.
In answering part (a) of the question, each ratio must be distinct and separate. Marks will not be awarded for alternative forms of the same ratio.

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Statement of profit and loss for the year to 31 October 20X2 £'000 £000 ales revenue: cash 200 credit 600 800 Less: Cost of goods sold opening inventory purchases 80 530 610 Less: closing inventory Gross profit Expenses Profit for the year -70 540 260 (205) Statement of financial position at 31 October 20X2 £000 550 ASSETS Non-current assets Current assets Inventories Trade receivables Cash 70 120 195 Total assets 745 EQUITY AND LIABILITIES UI Capital at 1 November 20X1 410 Net profit for the year Drawings Total equity Non-current liabilities 465 (50) 415 200 200 an Total non-current liabilities Current liabilities Trade payables Total current liabilities Total liabilities 130 130 330 745 Total equity and liabilities