B: Attempt ANY Two (2) questions-30 marks each Question 2. Extracts from the latest summarised financial statements of B plc are provided below. Income statements [extracts] for the years ended 31 December in millions: 2021 2020 Sales Gross profit Profit before tax 110 100 43 40 8 10 Statements of financial position [extracts] as at 31st December in millions: 2021 2020 Current assets: Inventory Receivables 12 9 18 24 Current liabilities: Payables 12 Bank overdraft Dividends Corporation tax 2662 12 2563 Required: a) Calculate the following ratios for each of the two years: Gross profit ratio .Net profit ratio [using profit before tax] Current ratio Quick ratio Inventory holding period in days Receivables ratio Payables ratio [14 marks] b) Comment on the performance of the company over the two years using the above ratios [16 marks]