Problem 3 (6 marks) (12 minutes) Below is a listing of financial data from FB Ltd.'s balance sheet for the current year, 2021, as well as the previous year, 2020 Cash Accounts Receivable Prepaid expenses Inventory Property Plant & Equipment (net) Accounts Payable Current portion oflong-term debt Long term debt Share capital Retained Earnings December 31, December 31, 2021 2020 $ 87,000 92,210 265,000 219,950 48.000 39.840 126,000 104,580 474,000 393,420 320,000 255,600 20,000 16,600 200,000 166.000 60,000 49,800 400,000 362,000 Below is a listing of financial data from FB Ltd.'s income statement for the current year, 2021, as well as the previous year, 2020 Year ending Year ending December 31, December 31, 2021 2020 Revenue 1,200,000 1,000,000 Operating Expenses 720,000 650,000 Interest Expense 12.000 10.800 Net Income before tax 468,000 339,200 In come tax expense 187,200 135,680 Net Income 280.800 203,520 Required: Calculate the following ratios based on the data above (round to 4 decim al places and show your work! a) Calculate FB Ltd.'s quick ratio for 2020 and 2021. (2 marks) b) Based on your answers from (a) what can you say about FB Ltd.'s liquidity? (2 marks) c) What is FB Ltd.'s Days sales in Accounts Receivable for 2021? (use 365 days) (1 mark) d) What is FB Ltd.'s Return on Equity for 2021? (1 mark)