* Cut Font Name Font Size Copy TabStop Wrap Text Overline Insert Column 3. Insert Row Delete Column Merge Cel 7. Delete Row Conditional Formatting - Remove Conditional formats CLICK HERE TO SAVE YOUR WORK K N B88 Black Ltd A B D F G 147 H M 148 149 Question 3 - Performance measurement (20 marks 150 Selected ratios for Black Ltd. are shown below: 151 2019 2018 2017 152 Liquidity 153 Current ratio 1.8:1 1.5:1 1.2:1 154 Receivables turnover 8.0 times 8.9 times 9.8 times 155 Inventory turnover 8.5 times 9.4 times 10.7 times 156 Solvency 157 Debt to total assets 60.2% 55.3% 50.1% 158 Times interest earned 2.5 times 3.0 times 3.5 times 159 Profitability 160 Asset turnover 1.3 times 1.5 times 1.8 times 161 Price-earnings ratio 10.5 times 5.0 times 25.0 times 162 163 Instructions 164 a) Provide a detailed explanation on the company's liquidity over the three years (5 marks), 165 b) Evaluate whether the company's solvency Improved or deteriorated over these three years (5 marks). 166 c) What ratio captures market's sentiments about the company? Discuss what the ratio over the three years suggests about the company (5 marks). 167 d) Evaluate the efficiency of the company in using its resources to generate sales over the three years (5 marks) 168 169 Note: You will get few marks if you just state an increase or decrease in the ratios as your answers to question 3 170 171 172 173 16 4 Sheet1 New ASUS Zenbook