(b) The analysis of the ratio of Xera Industries based on industry averages are as below: Actual 2019 1.04 0.38 Xera Industries-Ratio Analysis Industry Actual Average 2018 Liquidity Ratios Current ratio 1.80 1.84 Quick ratio 0.70 0.78 Activity Ratios Inventory turnover 2.50 2.59 Average collection period 37.5 days 36.5 days Debt Ratios Debt ratio 65% 67% Times interest earned 3.8 4.0 Profitability Ratios Gross profit margin 38% 40% 2.33 57 days 61.3% 2.8 34% 3 Net profit margin Return on total assets Return on common equity Market Ratio Market book ratio 3.5% 4.0% 9.5% 3.6% 4.0% 8.0% 4.1% 4.4% 11.3% 1.1 1.2 1.3 Given this information, generally comment on the analysis of each ratios : (i) Liquidity ratios (3 marks) (ii) Profitability Ratios (5 marks) (iii) Debt Ratios. (4 marks)