QUESTION 7 Chapter 14 (4 marks, 8 minutes) Selected financial ratios of Tango Ltd. and Cash Inc., two companies competing in the same industry, are as follows: Current ratio Receivables turnover Inventory turnover Asset turnover Return on assets Return on common shareholders' equity Tango Ltd. 2.2:1 33.5 times 7.7 times 1.75 times 16.75% 22.33% Cash Inc. 2.2:1 29.5 times 6.2 times 1.60 times 15.25% 22.33% Required: a Identify, analyze, and explain the liquidity ratios for Tango Ltd. and Cash Inc. Which company had more liquidity in 2020? b. Identify, analyze, and explain the profitability ratios for Tango Ltd. and Cash Inc. Which company was more profitability in 2020