Ms. Karien, the assistant financial manager, was provided with the following information for the purpose of draft a report on the liquidity of the company:

	2022	2021	2020	Industry average
Current assets	R1 876 000	R1452 000	R1 128 000
Current liabilities	R1 089 000	R945 000	R878 000
Current ratio	1.72:1	1.54:1	1.28:1	1.42:1
Quick ratio	1.20:1	1.10:1	0.82:1	0.96:1

You are required to:

1. Discuss why it is important for management to place emphasis of cash management during time of economic and business uncertainty.

2 Assist Ms. Karien to draft a report to management analysing the liquidity of the company. Your answer must be supported with calculations and reasons - also included addition analysis that could be performed.