Below are the figures forAgriculture Direct Ltd an agribusiness focusing on farming and farming related commercial activities. You as the accountant for the company are required to undertake a ratio analysis and make recommendations. Agriculture Agriculture Direct Agriculture Direct Direct Ltd Ltd Ltd 2020 2021 2022 A$'000 A5'000 AS'OOO Net credit sales *assume all sales are made on credit 129,696 132,500 Prot 11,937 13,050 Prot available to ordinary shareholders 17,838 10,500 Income tax 6,300 3,915 Interest expense 1,191 1850 Prot before income tax and interest expense 25,428 21,212 Cost of sales 60,291r 63,450 Gross Prot 69,399 69,050 Operating Expenses 45,267 56,000 Cash 12,502 8,002 Accounts Receivable 18,560 17,508 Net receivables 12,500 13,872 14,049 Inventory 5,800 7,854 7,566 Other current assets 3,485 2,801 Total current assets 37,713 49,926 Total Assets 96,000 119,544 107,982 Current Liabilities 26,268 45,301 Total Liabilities 67,218 70,236Net cash flows from operating activities 20,388 20,997 Capital expenditure 6,384 7,338 Total Equity 37,600 52,326 37,746 Weighted average No. of ordinary shares 4,674 4,719 Share price 150.06 180.85 Dividends 8,196 7,623 Earnings per share 11.43 9.78 Below are a number of ratios from the categories of financial ratio analysis you have learned about during your study of this topic. You are to calculate these ratios for 2021 and 2022. Liquidity ratios 1. Current ratio 2. Receivables turnover 3. Inventory turnover Financial stability ratios 1. Debt ratio 2. Times interest earned 3. Asset turnover ratio Profitability 1. Price-earnings ratio 2. Return on assets 3. Dividend yield 4. Gross profit margin Cash flow efficiency ratios 1. Cash flow to revenue Required: 1. Calculate the liquidity, financial stability, profitability and cash flow efficiency ratios listed above for Agriculture Direct Lid for the 2 years (11 marks) 2. Analyse and report on the ratios calculated and changes between 2021 and 2022. (5 marks) 3. In a brief report to your client, comment on what actions the client should now take to improve the operations of the company taking into account the uncertain external factors of evolving inflationary pressures, interest rate increases, climate change and other current global events. As this industry is broad, you can make assumptions and support the assumptions in the report you write. (8 marks)