BAC 1614 FUNDAMENTALS OF FINANCIAL ACCOUNTING 16 OCTOBER 2020 Part B Selected information from the comparative financial statements of SWS Company for the year ended 31 December appears below: Inventory Accounts receivable (net) Total assets Non-current liabilities Current liabilities Net credit sales Cost of goods sold Interest expense Income tax expense Net income 2020 RM 300,000 300,000 1,000,000 340,000 260,000 1,500,000 1,000,000 20,000 50,000 180,000 2019 RM 200,000 00,000 900,000 300,000 110,000 1,100,000 850,000 15,000 40,000 105,000 Required: Compute and comment on each of the following ratios relating to the year ended 31 December, 2020. 1. Inventory turnover 2. Times interest earned 3. Debt to total assets ratio 4. Account receivable turnover 5. Return on assets (10 marks) [Total 25 marks)