Question 3 (7 + 3 = 10 marks) Primo Pty Ltd, a fashion wholesaler, has provided you with the following data for its last three years of trading. 2017 2018 2019 Current Ratio Gross profit margin Accounts Receivable Turnover (days) Inventory turnover (days) Operating expense ratio Net profit ratio Debt Equity ratio 3.5:1 45% 38 days 40 days 25% 30% 30% 3:1 48% 42 days 45 days 30% 18% 35% 2:1 46% 48 days 50 days 40% 14% 40% Required: a) From the above table identify the key profitability ratios and comment on the performance of Primo Pty Ltd over the three-year period. (7 marks) b) In addition to ratio analysis, what other form of analysis may be used to assess the performance of a business