1. K. Berry is the managing director of CE Ltd. a small, family-owned company which manufactures cutlery. His company belongs to a trade association which publishes a monthly magazine. The latest issue of the magazine contains a very brief article based on the analysis of the accounting statements published by the 40 companies which manufacture this type of product. The article contains the following table:

	Average for all companies in the industry
Return on equity		33	%
Return on total assets		29	%
Gross margin percentage		30	%
Current ratio		1.9:1
Average sale period		37	days
Average collection period		41	days

CE Ltd's latest financial statements are as follows:

CE Ltd.
Income Statement
for the year ended 31 October
(in thousands)
Sales	$	900
Cost of goods sold		720
Gross margin		180
Selling and administrative expenses		55
Interest		15
Net income	$	110

The country in which the company operates has no corporate income tax. No dividends were paid during the year. All sales are on account.

CE Ltd.
Balance Sheets
as of 31 October
(in thousands)
	This Year			Last Year
Current assets:
Cash	$	5		$	20
Accounts receivable, net		120			110
Inventories		96			80
Noncurrent assets		500			460
Total assets	$	721		$	670
Current liabilities:
Accounts payable	$	147		$	206
Noncurrent liabilities:
Bonds payable		150			150
Common stock		100			100
Retained earnings		324			214
Total liabilities and stockholders equity	$	721		$	670

Required:

Calculate each of the ratios listed in the magazine article for this year for CE, and comment briefly on CE Ltd's performance in comparison to the industrial averages.