Problem 17-8A Evaluating ratios LO4 Web Structure Inc. calculated the ratios shown below for 2020 and 2019: Comparison to Industry Average Change For U* 2020 2019 1.08:1 0.99:1 16 35 0.97:1 0.84:1 18 31 Current ratio Quick ratio.... Accounts receivable turnover Days' sales uncollected. Inventory turnover Days' sales in inventory.... Total asset turnover Debt ratio 6 7 49 37 3.2 1.8 47 67 Times interest earned. 2.2 6.3 15 18 Profit margin Gross profit ratio. 17 16 *F= Favourable; U = Unfavourable Required 1. Identify whether the change in the ratios from 2019 to 2020 is favourable (F) or unfavourable (U). 2. Assess whether the 2020 ratios are favourable or unfavourable in comparison to the industry averages shown in Exhibit 17.11