Leeds Shipping is a family owned business. Based on their financial statements below:

a. Calculate the business Acid Test Ratios from 2019 to 2022 (round your answer to 2 decimal places). Give a commentary on the firms liquidity for the period.

b. Calculate the Creditors (Payable) Day Ratios (round your answer to a whole day) and make appropriate commentary on Leeds Shippings efficiency.

c. Explain why Leeds Shipping would want to investigate its liquidity with the Acid Test Ratio (after it has already done ascertained it liquidity with the Current Ratio)

Year 2022

SALES 1,100,000 PURCHASES 900,000

2021

1,418,000 1,100,000

25,000 122,000 0

70,000 47,000 45,000

2020

1,362,000 999,000

33,000 105,000 0

80,000 45,000 22,000

2019

1,210,000 850,000

51,000 67,000 9,000

80,000 52,000 0

4. Leeds Shipping is a family owned business. Based on their financial statements below: a. Calculate the business' Acid Test Ratios from 2019 to 2022 (round your answer to 2 decimal places). Give a commentary on the firm's liquidity for the period. b. Calculate the Creditor's (Payable) Day Ratios (round your answer to a whole day) and make appropriate commentary on Leeds Shipping's efficiency. c. Explain why Leeds Shipping would want to investigate its liquidity with the Acid Test Ratio (after it has already done ascertained it liquidity with the Current Ratio)