Question 5 Using the income statement and balance sheet from Question 4, calculate the following ratios for 2019. . Current ratio Quick (acid-test) ratio Debt ratio a Inventory turnover Accounts receivable turnover (use sales revenue for calculation) Gross Profit percentage Return on total assets Return on equity 2. Compare and discuss based on the industry averages given below. Consideration should be given to: Company's ability to pay their debts. Discuss each ratio that is relevant to the ability to pay debt. b. How is the company at collecting their Accounts Receivable and selling their inventory compared to the industry average. What does the gross profit percentage represent for the company? How do they compare to the industry average? How profitable is the company at using their assets? How much income is being generated for every dollar of invested by common shareholders? Industry averages: Current ratio - 2.50 Quick (acid-test) ratio - 1.25 Debt ratio - 0.30 Inventory turnover - 6,00 e Accounts receivable turnover - 21.00 Gross Profit percentage - 35% Return on total assets - 10% Return on equity -15%