Cairns Ltd and Reef Ltd have provided the following information, which relates to the year ended 30 June 2022. Return on assets Current ratio Debt/asset ratio Profit Margin Cairns Ltd Reef Ltd 8.80% 12.10% 2.00:1 1.35:1 60.2% 80.4% 7.5% 12.0% Required: Using the above information comment on each company's profitability, solvency and liquidity. In your discussion indicate which ratio(s) would be used to evaluate each category of performance and overall which company has the better performance for each ratio. (6 marks)