The following information were extracted from the books of Toyebi Ltd. You are required to calculate: (a) Rate of stock turnover; (b) Gross profit margin; (c) Current ratio; (d) Acid test ratio; (e) Return on capital employed.

$$\text{Average Stock} = \frac{\text{Opening Stock} + \text{Closing Stock}}{2}$$

$\text{Average Stock} = \frac{\$63,000 + \$50,300}{2} = \frac{\$113,300}{2} = \$56,650$

$$\text{Rate of Stock Turnover} = \frac{\text{Cost of Goods Sold}}{\text{Average Stock}}$$

$\text{Rate of Stock Turnover} = \frac{\$227,700}{\$56,650} = 4.02 \text{ times}$ The rate of stock turnover is $\boxed{\text{4.02 times}}$.

$$\text{Gross Profit Margin} = \frac{\text{Gross Profit}}{\text{Sales}} \times 100\%$$

$\text{Gross Profit Margin} = \frac{\$190,650}{\$418,350} \times 100\% = 0.4557 \times 100\% = 45.57\%$ The gross profit margin is $\boxed{\text{45.57\%}}$.

$$\text{Current Assets} = \text{Stock} + \text{Debtors} + \text{Cash}$$

$\text{Current Assets} = \$50,300 + \$32,500 + \$18,350 = \$101,150$

$$\text{Current Ratio} = \frac{\text{Current Assets}}{\text{Current Liabilities}}$$

$\text{Current Ratio} = \frac{\$101,150}{\$41,750} = 2.42:1$ The current ratio is $\boxed{\text{2.42:1}}$.

$$\text{Quick Assets} = \text{Current Assets} - \text{Stock}$$

$\text{Quick Assets} = \$101,150 - \$50,300 = \$50,850$

$$\text{Acid Test Ratio} = \frac{\text{Quick Assets}}{\text{Current Liabilities}}$$

$\text{Acid Test Ratio} = \frac{\$50,850}{\$41,750} = 1.22:1$ The acid test ratio is $\boxed{\text{1.22:1}}$.

Capital employed can be calculated as Fixed Assets + Working Capital, or as Total Equity + Non-current Liabilities. In this case, the closing capital (equity) is given as $129,100.

$$\text{Capital Employed} = \text{Fixed Assets} + (\text{Current Assets} - \text{Current Liabilities})$$

$\text{Capital Employed} = \$69,700 + (\$101,150 - \$41,750)$ $\text{Capital Employed} = \$69,700 + \$59,400 = \$129,100$

$$\text{Return on Capital Employed} = \frac{\text{Net Profit}}{\text{Capital Employed}} \times 100\%$$

$\text{Return on Capital Employed} = \frac{\$40,000}{\$129,100} \times 100\% = 0.3098 \times 100\% = 30.98\%$ The return on capital employed is $\boxed{\text{30.98\%}}$.