REQUIRED Use the information provided below to answer the following questions: 2.1 Calculate the following ratios. Express the answers to two decimal places. 2.1.1 Gross profit margin (2 marks) 2.1.2 Inventory turnover (2 marks) 2.1.3 Acid test ratio (2 marks) 2.1.4 Debt to assets (2 marks) 2.1.5 Return on equity (2 marks) 2.1.6 Earnings per share (2 marks) 2.1.7 Dividend yield (2 marks) 2.2 Comment on the current ratio, net profit margin ratio and average payment period ratio that were calculated for 2020 and 2021. (6 marks) INFORMATION Excerpts of the financial data of Bentley Limited for the financial year ended 31 December 2021 are as follows: R Sales 4 180 000 Cost of sales 2 180 000 Operating profit 800 000 Interest expense 30 000 Profit before tax 770 000 Company tax 215 600 Non-current assets 2 030 000 Inventories 570 000 Accounts receivable 730 000 Cash 300 000 Ordinary share capital 1 000 000 Retained earnings 630 000 Long-term loan 800 000 Accounts payable 290 000 Other current liabilities 910 000 Additional information 1. Inventories on 31 December 2020 amounted to R400 000. 2. The number of ordinary shares in issue during 2021 was 500 000. 3. Credit terms from suppliers are 60 days. 4. All the relevant asset, equity and liability accounts are included above. 5. Dividends for the 2021 amounted to R375 000. 6. The shares of Bentley Limited are currently selling for R2.50 each on the Johannesburg Securities Exchange (JSE). 7. The following ratios were calculated for 2021 and 2020: 2021 2020 Current ratio 1.33:1 2.09:1 Net profit margin 13.26% 21.78% Average payment period 44.43 days 59.45 days