• financial information for Glenn Ltd for the years ended 30 June 2020 and 2019 calculata Profit ratio;
• Return on owners' equity;
• Inventory turnover;
• Quick ratio;
• Debt to equity ratio.

From the results in part a), comment on the company's 2020 profitability, operating efficiency, liquidity and financial gearing when compared to the

industry averages.

2020 2019 $ $ Sales revenue 5,652,748 6,478,521 Cost of goods sold 4,251,634 5,496,325 Profit (after tax) 874,265 1,241,569 Inventory 1,174,569 1,247,851 Total current assets 6,285,321 6,786,325 Total assets 15,228,228 17, 109,052 Total current liabilities 4,547,325 4,452,364 Total liabilities 6,478,596 7,963,784 Total owners' equity 8,749,632 9,145,268 Industry averages for various ratios in 2020 are as follows: Profit ratio 13% Return on owners' equity 7.5% Inventory turnover 5.2 times Quick ratio 1.4 times Debt to equity ratio 114%