QUESTION 2 Answer the questions from the information provided in QUESTION 1. 2.1 Calculate the ratios of Supreme Limited for 2021 (expressed to two decimal places) that reflect each of the following: 2.1.1 The percentage of profit on sales that the company produced from its operations prior to considering interest and taxes. (2 marks) 2.1.2 A measure of the company's ability to pay its short-term obligations within one year. (2 marks) 2.1.3 A measure of the number of times the company has sold and replaced the inventory during the financial period. (2 marks) 2.1.4 An indication of the profitability of the company in relation to its total assets. 2.1.5 The efficiency with which the company used its net assets to produce sales. (2 marks) (2 marks) 2.2 222 Comment briefly but meaningfully on the following ratios of Supreme Limited (comparative figures are provided in brackets): 2.2.1 Earnings retention (2021: 30%; 2020: 45%) (2 marks) 2.2.2 Gross margin (2021: 36.21%; 2020: 44.86%) (2 marks) 2.2.3 Creditor payment period (2021: 24.66 days; 2020: 59.56 days) (2 marks) 2.2.4 Acid test ratio (2021: 2.16:1; 2020: 1.75:1) (2 marks) 2.2.5 Debt to equity (2021: 35.71%; 2020: 22.56%) (2 marks)