Read the information presented below and answer the questions that follow.

The following information was extracted from the books of Sisonke Limited:

Consolidated Statement of Comprehensive Income for the year ended 31 December 2019

	2019	2018
	R 000	R 000
Revenue	120 366	242 702
Cost of sales	(103 024)	(102 286)
Gross profit	17 342	140 416
Operating expenses	(5377)	(120 448)
Profit from operations	11 965	19 968
Interest expense	(5 350)	(906)
Profit before tax	6 615	19 062
Income tax	(1 852)	(5 337)
Retained profit for the period	4 763	13 725

Consolidated Statement of Financial Position as at 31 December 2019

	2019	2018
	R000	R000
ASSETS
Non-current assets
Land and buildings	39 100	21 322
Motor vehicles	1 928	1933
Furniture and fittings	1 004	1 070
	42 032	24 325
Current assets	52 030	44 951
Inventories	37 108	27 260
Trade receivables	14 000	17 500
Cash available	922	191
Total assets	94 062	69 276
Equity and Liabilities
Equity	30 428	24 623
Share capital (R1 share)	7 300	5 800
Preference shares	2 000	-
Retained earnings	21 128	18 823
Non-current liabilities
Interest-bearing loan	26 700	16 700
Current liabilities	36 934	27 953
Trade and other payables	31 420	22 616
Income tax	1 852	5 337
Short-term borrowings	3 662	-
Total equity and liabilities	94 062	69 276

Additional information:

• The value of inventory on 31 December 2017 was R24 000.
• Assume that there are 365 days in a year.

Instructions:

• Use the information provided above to calculate the following ratios in your notebook, for both 2019 and 2018:
  • The net profit ratio
  • The return on investments
  • The return on equity
  • The current ratio
  • The quick (acid test ratio)
  • The net working capital
  • The average collection period
  • The average payment period
  • The inventory turnover
  • The debt ratio
  • The debt-equity ratio
  • The times interest earned ratio