Liquidity ratios measure Short-term Solvency. Below is the Emirates Financial Position (Balance Sheet) Statement for the ending 31st March 2021. Consolidated Statement of Financial Position as at 31 March 2021 ASSETS Non-current assets Property, plant and equipment Right-of-use assets Investment property Intangible assets Investments accounted for using the equity method Trade and other receivables Deferred tax assets Current assets Inventaries Trade and other receivables Derivative financial instruments Current tax assets Short term bank deposits Cash and cash equivalents Total assets Note 8 9 10 11 12 14 20 13 14 24 23 NIN 33 23 2021 AED m 2,067 2,024 420 2,121 455 31 196 7,314 77 2,164 29 3,730 960 6,960 14,274 2020 AED m 2,162 1,963 387 2,785 551 15 280 8,143 156 3,018 15 5.5 3,700 1,616 8,560 16,703 EQUITY AND LIABILITIES Capital and reserves Capital Capital reserve Other reserves Retained earnings Attributable to dnata's Owner Non-controlling interests Total equity Non-current liabilities Trade and other payables Borrowings and lease liabilities Provisions Deferred tax liabilities Current liabilities Trade and other payables Borrowings and lease liabilities Derivative financial instruments Provisions Current tax liabilities Total liabilities Total equity and liabilities Note 15 16 17 19 18 20 17 19 24 18 2021 AED m 63 (70) (242) 6,803 6,554 (19) 6,535 183 2,993 568 95 3,839 2,662 1,065 7 149 17 3,900 7,739 14,274 2020 AED m 63 (70) (412) 8,678 8,259 43 8,302 211 2,961 682 255 4,109 3,257 957 52 57 21 4,292 8,401 16,703 Use the above Financial Statement to calculate Liquidity Ratios for the ending 31st March 2021: a) Current Ratio 2 marks b) Quick or Acid Test Ratio 2 marks c) Use the Current and Quick ratios of Emirates Airlines calculated above and the USA Current and Quick ratios of Aircraft industry below: Discuss whether Emirates Airlines is performing well or not compared to USA airline industry? 1 mark