Question: 1 QUESTION 4 (20 MARKS) 1. You have analysed Glover Indutry's financial statement for fiscal year 2020. The following are a few of the selective

1 QUESTION 4 (20 MARKS) 1. You have analysed Glover Indutry's

1 QUESTION 4 (20 MARKS) 1. You have analysed Glover Indutry's financial statement for fiscal year 2020. The following are a few of the selective information prepared. Glover Industry average (fiscal year 2020) Current ratio 2.39 3 Acid-test ratio 1.31 Debt ratio 25.789 15.5096 Accounts receivable turnover 12 times 20 times Days in inventory 120 days 90 days Returns on assets 20% 12% Required: (a) Analyse and comment accordingly for each ratio provided above. (6 marks) (b) in your opinion, is Glover able to pay its long term debt. Explain

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