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QUESTION 2 (25 MARKS) a. Beacon Company's total current assets, total current liabilities, and inventory for each of the past 4 years follow: i. Calculate the firm's current and quick ratios for each year. Compare the resulting times series of these measures of liquidity. (12 marks) ii. Comment on the firm's liquidity over the 2016-2019 period. (3 marks) CONFIDENTIAL/2 FBA/PFS1313/APRIL20 iii. If you were told that Beacon Company's inventory turnover for each year in the 20162019 period and the industry averages were as follows, would this support or conflict with your evaluation in part (ii)? Why? (2 marks) b. The following figures as for AF Stationery Trading as at March 2020. i. Calculate average collection period. (2 marks) ii. Calculate Net profit margin (2 marks) iii. Calculate Inventory Turnover (2 marks) iv. Calculate Gross profit margin (2 marks)