Comparative financial statements are provided for Hondo Computers Ltd. Hondo Computers Ltd Extract from Income Statement 2022 ($) 2021 ($) Sales Revenue 858,000 803,000 Cost of Sales (513,000) (509,000) Gross Profit 345,000 294,000 Expenses (264,000) (251,000) Profit 81,000 43,000 Hondo Computers Ltd Extract from Balance Sheet 2022 ($) 2021 ($) Assets Current assets 262,000 236,000 Non-current assets 525,000 408,000 Total assets 787,000 644,000 Liabilities Current liabilities 142,000 126,000 Non-current liabilities 289,000 198,000 Total liabilities 431,000 324,000 Equity 356,000 320,000 Total liabilities and equity 787,000 644,000 Additional information Current assets in 2022 included $113,000 inventory ($111,000 in 2021). Current assets in 2022 included $114,000 accounts receivable ($85,000 in 2021). Expenses in 2022 included $24,000 interest expense ($14,000 in 2021). Required Using the above information: calculate the current ratio for 2022 and 2021 and the quick assets ratio for 2022 and 2021. Comment on the companys liquidity performance with respect to these comparative ratios and state whether the ratios are at an acceptable level in 2022. (3 marks) calculate the inventory turnover for 2022 and the debtors turnover for 2022. Comment on the companys performance with respect to these ratios and how well they are managing their inventory and debtors. (3 marks) calculate the debt to assets ratio for 2022 and 2021 and the debt to equity ratio for 2022 and 2021. Comment on the companys performance with respect to these comparative ratios and suggest (with justification) whether the company should seek debt financing or equity financing to obtain further funding. (4 marks)