QUESTION $2(25$ Marks$)$ Refer to the statement of comprehensive income for the year ended $31$ December $2023,$ statement of financial position as at $31$ December $2023$ and additional information related to the $2023$ financial year. REQUIRED Calculate the ratios for $2023($expressed to two decimal places$)$ that would reflect each of the following and comment on your answers. Use only the formulas provided in the formula sheet that appear after Question $4$ or in the module guide. $2\mathrm{.}1$ The efficiency of the company to collect its debts on time. $(4$ marks$)2\mathrm{.}2$ The amount of debt that the company uses to finance its assets. $(4$ marks$)2\mathrm{.}3$ The ability of the company to settle its short$-$term debts without relying on the sale of inventories. $(4$ marks$)2\mathrm{.}4$ The percentage of the profit that has been put back into the company. $(4$ marks$)2\mathrm{.}5$ The efficiency with which the company has managed its inventory. $(4$ marks$)2\mathrm{.}6$ The return that the shareholders achieved on their investment. $(5$ marks. HARTLEY LIMITED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED $31$ DECEMBER $2023$ R Sales $22000000$ Cost of sales $(18000000)$ Opening inventory $3500000$ Purchases $19000000$ Closing inventory $(4500000)$ Gross profit $4000000$ Operating expenses $(2500000)$ Operating profit $1500000$ Interest expense $(200000)$ Profit before tax $1300000$ Company tax $(351000)$ Profit after tax $949000.$ HARTLEY LIMITED STATEMENT OF FINANCIAL POSITION AS AT $31$ DECEMBER $2023$ R ASSETS Non$-$current assets $2200000$ Property, plant and equipment $2200000$ Current assets $7000000$ Inventory $4500000$ Accounts receivable $2200000$ Cash $3000009200000$ EQUITY AND LIABILITIES Equity $4200000$ Ordinary share capital $(100000$ shares$)2800000$ Retained earnings $1400000$ Non$-$current liabilities $2000000$ Loan $2000000$ Current liabilities $3000000$ Accounts payable $2500000$ Short$-$term loan $5000009200000$