Assessment Task 6 Given below are the budgeted and actual financial statements for Diver Pty Ltd. You have also been provided with the following information: 30 June 20X2 Industry Average Current Ratio 2.25 2.1 Liquid Ratio 2.00 1.5 Inventory Turnover Rate 51 Times 6 Times Accounts Receivable Collection Period 78 Days 53 Days Gross Profit Ratio 52% 55% Net Profit Ratio 9% 8% Return on Equity 22.5% 20% Opening balance Equity (01/07/20X2) 42, 000 Opening balance Inventory (01/07/20X2) 8, 500 You are required to: a) Calculate the following using the actual results for the year ended 30 June 20X3 Current Ratio Liquid Ratio Inventory Turnover rate Accounts receivable collection period Gross Profit ratio Net Profit ratio Return on equity b) Prepare a brief report commenting on the results you have calculated in Part a)