Question 1 Lake of Egypt Marina Inc, Balance Sheet as of December 31 2008. (In millions of dollars) Lake of Egypt Marina Inc, Income Statement for Year ending December 312008. The market price for Lake of Egypt Marina Inc common shares was $14.75 in 2008. Required: a. Calculate the following ratios for 2008 : I. Current ratio ii. Quick ratio iii average collection period iv Average payment period v. Profit margin vi Total Debt to equity vii Earnings per share viii Price Earnings ratio (12 marks) b. The industry standards for the above ratio are given as follows: ve in % Using the industry standards ratio and the ratios calculated in part ' a ', evaluate the performance of Lake of Egypt Marina Inc