QUESTION $2(20$ Marks$)2\mathrm{.}1$ Calculate the following ratios for $2024.$ Note: Use the formulas provided in the formula sheet only $($that appear after QUESTION $5).$ Answers to the ratios must be expressed to two decimal places and be fully stated e$.$g$.23\mathrm{.}45\%$; $1\mathrm{.}34$:$1$ etc. $2\mathrm{.}1\mathrm{.}1$ Operating profit margin $(2$ Marks$)2\mathrm{.}1\mathrm{.}2$ Inventory turnover $(2$ Marks$)2\mathrm{.}1\mathrm{.}3$ Current ratio $(2$ Marks$)2\mathrm{.}1\mathrm{.}4$ Return on equity $(2$ Marks$)2\mathrm{.}1\mathrm{.}5$ Earnings per share $(2$ Marks$)2\mathrm{.}1\mathrm{.}6$ Debt$-$equity ratio $(2$ Marks$)2\mathrm{.}1\mathrm{.}7$ Dividend yield $(2$ Marks$)2\mathrm{.}2$ Comment briefly, but meaningfully, on the following ratios: $202420232\mathrm{.}2\mathrm{.}1$ Price$-$earnings ratio $2\mathrm{.}61$ times $1\mathrm{.}53$ times $(2$ Marks$)2\mathrm{.}2\mathrm{.}2$ Debt to assets ratio $36\mathrm{.}84\%52\mathrm{.}33\%(2$ Marks$)2\mathrm{.}2\mathrm{.}3$ Average payment period $26$ days $45$ days $(2$ Marks$)$ INFORMATION Excerpts of the financial data of Milo Limited for $2024$ are as follows: Statement of Comprehensive Income for the year ended $31$ December $2024$ R Sales $6000000$ Cost of sales $3900000$ Operating profit $900000$ Interest expense $60000$ Profit before tax $840000$ Company tax $226800$ Statement of Financial Position as at $31$ December $2024$ R Non$-$current assets $1170000$ Inventory $540000$ Accounts receivable $360000$ Cash $210000$ Ordinary share capital $1200000$ Retained earnings $240000$ Long$-$term loan $510000$ Accounts payable $270000$ Dividends payable $60000$ Additional information $$ Ninety percent $(90\%)$ of the sales was on credit. $$ Inventory on $31$ December $2023$ amounted to R$460000.$ All the shares were issued at R$3$ per share during the initial public offering, but the current market price is R$4$ per share. $$ An interim dividend of R$180000$ was paid during the financial year. $$ Creditors allow credit terms of $30$ days.