You are given the attached information about Fred plc, compressing summarized P&L accounts, summarized balance sheets, and some suggested ratio calculations you should note that there may be alternative ways of calculating some of these ratios The holder of a small number of the ordinary shares in the business has come to you for help and advice There are a number of things he does not properly understand, and a friend of his who is an accountancy student has suggested to him that some of the ratios show a distinctly unsatisfactory position, and that he should sell his shares as quickly as possible.