nterpreting liquidity and activity ratiosThe table, LOADING..., shows key financial data for three firms that compete in the consumer products market: Procter & Gamble, Colgate-Palmolive, and Clorox. a. Calculate each of the following ratios for all three companies: current ratio, quick ratio, inventory turnover, average collection period, total asset turnover. b. What company is in the position of having greatest liquidity? c. Would you say that the three companies exhibit similar performance or quite different performance in terms of collecting receivables? Why do you think that might be? d. Which company has the most rapid inventory turnover? Which company appears to be least efficient in terms of total asset turnover? Are your answers to those questions a little surprising? If a company is best at inventory turnover and worst at total asset turnover, what do you think that means? Question content area bottom Part 1 a. For the three companies, the current ratios are:(Round to three decimal places.) Procter and Gamble Colgate-Palmolive Clorox Current ratio 0.885 1.314 0.759 Part 2 For the three companies, the quick ratios are:(Round to three decimal places.) Procter and Gamble Colgate-Palmolive Clorox Quick ratio