CCC - Balance sheets 31 December 2018, 2017 assets 2018 2017 Fixed assets, net 600,000 500,000 Inventory 70,000 50,000 Accounts receivable, net 100,000 150,000 Cash 30,000 50,000 Total current assets 200,000 250,000 Total assets 800,000 750,000 Equity and liabilities 2018 2017 Share capital 300,000 200,000 Retained earnings 80,000 100,000 Total equity 380,000 300,000 Payable bonds 200,000 250,000 Accounts payable 150,000 120,000 Income taxes payable 70,000 80,000 Total current liabilities 220,000 200,000 Total liabilities 420,000 450,000 Total equity and liabilities 800,000 750,000 Required ( show formulas and calculations ): 1) Calculate the following liquidity ratios in year 2018 and year 2017 : Current assets to Total assets; Cash to Current liabilities ratio; Current assets to Current liabilities ratio; Acid-test ratio. 2) Based on the ratios calculated, comment on the liquidity performance of CCC Company