The GG Company's Statement of Profit and Loss account and Statement of Financial Position for two years have been given below: Statement of Profit and Loss for the year 2022ParticularsAmount…

The GG Company's Statement of Profit and Loss account and Statement of Financial Position for two years have been given below: Statement of Profit and Loss for the year 2022ParticularsAmount (Rs)Revenue from operation (including credit sales of Rs 650,000)1,200,000Less: Cost of sales(700,000)Gross margin500,000Add Other income70,000Total570,000Less: Distribution expenses(160,000)Less: Administrative expenses(220,000)Operating Profit190,200Less: Finance cost(30,000)Net profit before tax160,000Less: Provision for tax(40,000)Net profit after tax Statement of Financial Position of a company for 2021 and 2022Assets20212022Non-Current Assets:Property, plant and equipment500,000600,000Intangible Assets80,00040,000Investments70,000100,000Total Non-Current Assets600,000740,000Current Assets:Inventories/Stock40,000Cash and cash equivalents30,00050,000Account receivables40,00070,000Trade and Other receivables60,00030,000Total Current Assets170,000190,000Fictitious AssetsTotal Assets (Total Non-current and Current Assets)770,000930,000Equity:Share capital @Rs 100 each400,000450,000Reserve/Net Profit100,000220,000Non-controlling interestsTotal Equity500,000670,000LiabilitiesNon-Current Liabilities:10% Loans and borrowings150,000200,000Total Non-Current Liabilities150,000200,000Current Liabilities:Trade and other payable100,00020,000Income tax liabilities40,000Provisions20,000Total Current-Liabilities120,00060,000Total Liabilities (Total Non-current and Current)270,000260,000Total Equity and Total Liabilities770,000930,000 Required for 2022: a. Current ratio (2:1) b. Acid test ratio (1:1) c. Debt to total capital ratio (less than 40%) d. Stock turnover ratio (at least 8 times) e. Total assets turnover ratio (more than 1 time) f. Net profit margin (at least 12%) g. Return on equity (at least 7%) h. Return on assets (at least 5%) i. Average sales period (45 days or less than 45 days) j. Account receivable turnover ratio (at least 8 times) k. Comment on the results