inte) Calculate the indicated ratios for the 2018 and 2019 years. Analyze trends in Patio and compare each with the industry average. What can you infer from this information? Make specific statements about liquidity, asset management, especially receivables and inventories, debt management, and profitability. Do not simply say that ratios are higher or lower than the average or that they are going up or down. Think about what might he aning the company and propose reasons why the ratios are acting as they are. Industry Average 20X8 20X9 1.5 3.2 Current Ratio Quick Ratio Accounts Receivable Days Inventory Turnover Total Asset Turnover Debt:Equity ROA ROE Equity Multiplier Price to Earnings Fully Diluted P/E 42 days 7.5X 1.2X 1:01 10.80% 22.80% 2.1 1.85 1.79 PROSPECTOR COMPANY INCOME STATEMENTS For The Periods ended 12/31 (000,000) 20X Sales COGS Gross Margin 20X7 $1,578 631 $ 947 20X8 $2,106 906 $1,200 $3,265 1,502 $1.763 Expenses Marketing R & D Admin Total Expenses $316 158 126 $ 600 $495 211 179 $ 885 $882 327 294 $1,503 $315 EBIT Interest Expense Earnings Before Taxes $347 63 $284 $220 $260 143 $117 40 Net Income $187 $145 BALANCE SHEETS 12/31 ($000.000) 20X7 20X8 20X9 ASSETS $ Cash Accounts Receivable Inventory Total Current Assets Fixed Assets Gross Accum. Depreciation Net 30 175 90 295 $ 40 $ 62 351590 151 300 $ 542 $ 952 $ $1,565 (610) $ 955 32 373 (860) $1,513 $2.718 (1.135) $1,583 Total Assets $1.250 $2,055 $2.535 LIABILITIES Accounts Payable L Aceruals Total Current Liabilities S56 16 S1 819134 20 30 S101 $164 Capital Long-Term Debt Equity Total Liability & Equity $1,600 S6:30 549 51250 $1,260 6 94 2 055 $2.535