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Interpreting liquidity and activity ratios The table, shows key financial data for three firms that compete in the consumer products market. Procter & Gamblon Colgate-Palmolive, and Clorox a. Calculate each of the following ratios for all three companies current ratio, quick ratio, inventory turnover, average collection period, total asset turnover. b. What company is in the position of having greatest liquidity? c. Would you say that the three companies exhibit similar performance or quite differont performance in terms of collecting receivables? Why do you think that might be? d. Which company has the most rapid inventory turnover? Which company appears to be loast officient in terms of total asset turnover? Are your answers to those questions a little surprising? If a company is best at inventory tumover and worst at total asset turnover, what do you think that means? Clorox 0.758 Clorox 0510 Procter and Gamble Colgate-Palmolivo Current ratio 0885 1312 For the three companies, the quick ratios are: (Round to three decimal places) Proctor and Gamble Colgate-Palmolive Quick ratio 0.710 0.056 For the three companion, the inventory tumover ratios aro (Round to three decimal places) Procter and Gamble Colgate-Palmolive Inventory tumovor 6883 5.154 For the three companies, the average collection periods are (Round to three decimal places) Procter and Gambie Colgate-Palmolive Average collection period Clorox 6.350 Clorox Help me solve this View an example Ask my instructor Clear all Check answer Data table Sales Cost of goods sold Receivable Inventory Total current assets Total current liabilities Total assets Procter & Gamble $65,237 32,971 4,737 4,790 25,574 28,903 117,038 Colgate-Palmolive $15,192 6,071 1,400 1,178 4,337 3,305 12,133 Clorox $5,871 3,226 515 508 1,553 2,050 4,569 (Note: All dollar values are in thousands.) w Done