(Liquidity and profitability analysis) Cathy's Cuisine Ltd. is a small restaurant and catering business started three years ago by Cathy Crosby. Initially the company's operations consisted of a small diner. In 2019, the company added the catering services as a way to expand sales without having to add space for seats. As the catering side of the business grew in 2020, the company purchaseda used vehicle for deliveries. All sales in the diner are cash, debit, or credit card, but for catering jobs, customers are invoiced after the event. Most of the company's suppliers offer terms of 30 days. Selected financial information for Cathy's Cuisine Ltd. follows. \begin{tabular}{lrrr} \hline Inventory & 11,550 & & 6,190 \\ Land & 14,590 & 14,590 \\ Building and equipment & 29,400 & 23,560 \\ \hline Total assets & $79,800 & & $56,860 \\ & & \end{tabular} Other information \begin{tabular}{lrr|} Sales & $171,730 & $143,690 \\ Cost of goods sold & 73,320 & 70,510 \\ Net income & 23,340 & 5,740 \end{tabular} Assume the growth in sales in 2020 is primarily from the catering business. Calculate the gross margins and the profit margins, (Round answers to 1 decimal place, eg. 15.1\%) Calculate the company's current ratio and quick ratio for both years. (Round answers to 2 decimal places, eg. 1.84.) Calculate the company's accounts receivable turnover ratio for 2020 . How quickly is the company collecting its receivables? (Round answers to 1 decimal place, eg. 18.4.) Assume that 50% of the sales come from the catering business and recalculate the accounts receivable turnover for 2020 . (Round answers to 1 decimal place, es. 18.4 .1 Calculate the company's inventory turnover ratio for 2020 . (Round answers to 1 decimal place, eg. 18.4.) Calculate the company's accounts payable turnover ratio for 2020. (Round answers to 1 decimal place, eg. 18.4.)