Case 3: Financial Statement Analysis 1. Below are the nancial ratio result of E6 Manufacturing tor the period 2018. 2019. and 2020 together with the current industry averages Ratio 2018 2019 2020 Induslry Average Current Ratio 1.70 1.80 2.50 1.50 Quick Ratio 1.00 0.90 1.30 1.20 Inventory Turnover 5.20 Times 5.00 Times 5.30 Times 10.20 Times Average Collection Period 50 days 55 days 57 days 46 days Total Asset Turnover 1 .50 Times 1 .50 Times 1 .60 Times 2.00 Times Debt Ratio 45.80% 54.30% 57.00% 24.50% Times Interest Earned 2.20 Times 1.90 Times 1.60 Times 2.00 Times Gross Profit Margin 27.50% 28.00% 27.00% 26.00% Net Profit Margin 1.10% 1.00% 0.71% 1.20% Return on Total Assets 1 .70% 1 .50% 1 .20% 2.40% Return on Equity 3.10% 3.30% 2.70% 3.20% Prices'Earnings Ratio 33.50 38.70 34.50 43.40 Markethook Ratio 1.00 1.10 0.89 1.20 Evaluate the company's A. Liquidity Ratios B. Activity Ratios C. Debt Ratios D. Profitability Ratios E. Market Ratios