(b) The industry averages for 2019 that the company refers to as its benchmarks are provided as follows: Industry Average Gross profit ratio 61.23% Net income to revenue ratio (after tax) 19.87% Return on shareholders' equity (after tax) 34.56% Current ratio 1.94:1 Quick ratio 0.88 : 1 Accounts receivable collection period (in days) 30.31 days Use the ratios computed in (a) to compare Hong Kong F&B Supplies Limited's performance to the industry averages and comment on the company's 'profitability and liquidity' respectively. (12 marks) I (Total 20 marks) (b) The industry averages for 2019 that the company refers to as its benchmarks are provided as follows: Industry Average Gross profit ratio 61.23% Net income to revenue ratio (after tax) 19.87% Return on shareholders' equity (after tax) 34.56% Current ratio 1.94:1 Quick ratio 0.88 : 1 Accounts receivable collection period (in days) 30.31 days Use the ratios computed in (a) to compare Hong Kong F&B Supplies Limited's performance to the industry averages and comment on the company's 'profitability and liquidity' respectively. (12 marks) I (Total 20 marks)