Calculate the following ratios for company X for the years 2021 and 2022 then provide your conclusion about the companys financial performance for the year 2022. You must support it with concrete steps can they practice in order to improve their performance.

Ratio	Industry	COMPANY X
		2021	2022
Current Ratio	2.00 x
Inventory Turnover	3.60 x
DSO (365 days)	32.5 days
Fixed Assets Turnover	1.25 x
Debt Ratio	62.5%
Debt-to-Equity Ratio	1.67 x
Net Profit Margin on Sales	28.75%
Return on Assets	19.75%
Return on Equity	36.88%

Financial Analysis Refer to the data below + Balance Sheet as of December 31, 2021 and 2022 (in millions of pesos) Assets 2021 2022 Liabilities & Equity 2021 2022 Current assets: Cash and marketable securities Accounts receivable Inventory Total Current liabilities: Accrued wages and taxes Accounts payable Notes payable 65 275 110 115 190 200 43 80 70 40 90 80 365 390 Total 193 210 Long-term debt: 280 300 Fixed assets Gross plant and equipment Less: Depreciation Net plant and 471 580 Stockholders' equity: 100 110 Preferred stock (5 million shares) Common stock and 5 P 5 equipment P 371 470 paid-in surplus 65 65 Other long-term assets Total 49 50 (65 million shares) 420 F 520 Retained earnings Total P 785 P 910 Total liabilities and equity 242 330 312 P 400 785 910 Total assets Income Statement for Years Ending December 31, 2021 and 2022 (in millions of pesos) Net sales (all credit) Less: Cost of goods sold Gross profits Less: Depreciation Earnings before interest and taxes (EBIT) Less: Interest Earnings before taxes (EBT) Less: Taxes Net income 2021 432 200 232 20 212 30 182 55 2022 515 260 255 22 233 33 200 57 143 P 127 Less: Preferred stock dividends Net income available to common stockholders Less: Common stock dividends Addition to retained earnings 122 65 57 5 138 65 73 Per (common) share data: Earnings per share (EPS) Dividends per share (DPS) Book value per share (BV) Market value (price) per share (MV) 1.877 $1.000 34.723 12.550 P2.123 1.000 P6.077 14.750