Carson Cutlery (the company) is being assessed by the independent ABC agency for potential acquisition. The company has provided its financial statements (Balance Sheet and Income Statement) to the ABC agency for assessment. You, an employee of the ABC agency, are requested to calculate the following six financial ratios defined in table 6.8 of your textbook: Current Ratio, Acid Test Ratio, Equity Rat Inventory Turnover Ratio, Renurn-on-Assets Ratio, and Return-on-Equity Ratio, for both reported years (i)Make and justify your recommendation based on the evaluation of the financial statements of the company and the ratios that you have determined, by comparing them against the industry standards provided below Ratio | Industry Standard Current ratio Acid-test ratio Equity ratio Inventory turnover ratio Return-on-asset ratio Return-on equity ratio 1.80 0.92 0.71 14.21 7.91% 11.14% TIP: Review the review problems 6.1 &6.2 in your textbook, using the provided industry standards for your recommendation analysis