Task 2c: CLO1 OBJECTIVE: To enable learners to utilise financial ratios as a mechanism to evaluate firm's financial performance and identify areas for making decisions for improvement. REQUIREMENT: Financial Statement Analysis Question The condensed financial statements of the Lavender Companies, Inc. for the years ended June 30,2021 and 2020 are presented as follow: Lavender Companies, Inc Balance Sheets June 30 (in millions) Lavender Companies, Inc Income Statements For the year ended June 30 (in millions) 8 Required: Analyse Lavender's financial statements. Include computation of the following ratios for 2020 and 2021 and comparisons of these ratios in your discussion. a. Current ratio b. Inventory turnover (Inventory on June 302019 was $546.3 ) c. Return on assets (Assets on June 302019 were $3,043.3 ) d. Return on common stockholders' equity e. Debt to total asset ratio