Interpreting liquidity and activity ratios The table, Gamble, Colgate-Palmolive, and Clorox. shows key financial data for three firms that compete in the consumer products market. Procter & a. Calculate each of the following ratios for all three companies: current ratio, quick ratio, inventory turnover, average collection period, total asset turnover b. What company is in the position of having greatest liquidity? c. Would you say that the three companies exhibit similar performance or quite different performance in terms of collecting receivables? Why do you think that might be? d. Which company has the most rapid inventory turnover? Which company appears to be least officient in terms of total asset turmover? Are your answers to those questions a little surprising? If a company is best at inventory turnover and worst at total asset turnover, what do you think that means? a. For the three companies, the current ratios are: (Round to three decimal places.) Current ratio Procter and Gamble Colgate-Palmolive Clorox Data table te in the consu Sales Procter & Gamble $65,236 Colgate-Palmolive Clorox Cost of goods sold $15,201 $5,877 32,964 6,083 3,224 Receivable 4,726 1,419 509 Inventory 4,781 1,175 500 Total current assets 25,575 4,335 1,551 Total current liabilities 28,896 3,299 2,037 Total assets 117,034 12,126 4,580 (Note: All dollar values are in thousands.)