Osestions You are given the financial information of Hong Kong FB Supplies Limited for the financial years of 2018 and 2019 as follows: 2015 S000 2.400 1.440 Revenue (all credit sales) Less: Cost of Sales Gross proti Les Operating expenses Operating profit before Less Income tax expense Net income 2019 SODO 1.800 80 950 SSO 400 20 330 618 265 Cash Accounts receivable Inventories Non-current assets (net) Accounts payable Accrued expenses Bank loan, ropayable in 2003 Share capital Retained carings 19 214 292 1.344 415 10 390 500 445 46 154 301 1.451 347 9 R8 30 775 Required (a) Calculate to 2 decimal places the following rations for the company for the year of 2019: Gross profit ratio ) Net income to revenue ratio terta) ) Return on shareholders' equity after tar) (iv) Current (v) Quick ratio (1) Accounts receivable collection period (in days) (vii) Debt-to-equity ratio (vii) Inventory tumewer in times) marks) (b) The industry averages for 2019 that the company refers to as its benchmarks are provided Industry 61.23% Gross profit ratio Net income to revenue ratio (after tax) Return on shareholders' equity after tas) Current ratio Quick ratio Accounts receivable collection period in days) 1.90:1 0.85:1 30 31 days Use the ratios computed in (a) to compare Hong Kong F&B Supplies Limited's performance to the industry averages and comment on the company's profile and liquidity' respectively Total 20 marks)