7.1. Calculate the six ratios (as shown in the table below), for 2019.Insert your solution in the table above (no workings are required). (12) 7.2. Discuss the performance of Iceland with the industry for 2019 in terms of liquidity and profitability.

The financial statements for Frozen Ltd are shown below. As a financial manager, you are required to analyze the statements and compare it with the industry. Calculate the ratios, as shown in the table on the industry for 2019. FROZEN Ltd. BALANCE SHEET, AS OF DECEMBER 31 (in 1000s ) 2018 2019 Assets Current assets Cash 683 325 Accounts received 1,490 3,599 Inventories 1,415 2,423 Prepaid expenses 15 13 Total current assets 3,603 6,360 Property, plant, equipment, net 1,066 1,541 Other 123 157 Total assets 4,792 8,058 Liabilities Current liabilities 485 588 576 Notes payable to bank Current portion of long-term debt Accounts payable Estimated income tax Accrued expenses Customer advance payment Total current liabilities Long-term debt Other liabilities Total liabilities 875 115 933 472 586 963 3.945 179 131 4,255 34 1,721 122 81 1,924 Shareholders' equity Common stock, par value 829,000 outstanding. Preferred stock, Series A 10%; K25.00 par value, Additional paid-in capital Retained earnings Total shareholders' equity Total liabilities and shareholders' equity 550 500 450 1,368 2,868 4,792 829 450 575 1,949 3,803 8,058 FROZEN Ltd. INCOME STATEMENT YEARS ENDING DECEMBER 31 (1000s) 2018 2019 Net sales Other income net Total revenues Cost of goods sold General administrative and marketing expenses Interest expenses Total cost and expenses Net income before tax Income tax Net income Preference dividends 7,570 261 7,831 4,850 1,531 22 6,403 1,428 628 800 12,065 345 12,410 8,048 2,025 78 10,151 2,259 994 1,265 50 45 Current Quick ROA EPS OPM ROE Ratio (2013) Industry 1.5 0.8 23% 1.51 25.6 39.2%