Chapter 4 The Balance Sheet (1): Assets 11. The balance sheet of Steel Traders Inc. as at December 31, 2020, was as follows: You are told that the sales revenue for 2020 was $9,800,000 and that the company made a net income of $500,000 in 2020. Required (a) Calculate the following ratios: (i) Current ratio (ii) Quick ratio (iii) Receivables turnover ratio (iv) Receivables collection period (v) Inventory turnover ratio (vi) Days' sales in inventory (b) Is the company liquid