QUESTION The CEO of Ichigo Sdn. Bhd. has asked you, an experienced financial analyst to perform a detailed financial statement analysis of the company for the year ended 31 December 2019. Below are the financial ratios of Ichigo Sdn. Bhd. for the year ended 2018 and the financial statement for the year 2019. Ichigo Sdn. Bhd. Statement of Financial Position as at December 31, 2019 RM Non-Current Assets 5,292,500 Current assets Cash and Marketable Securities 40,000 Accounts Receivable 700,000 Inventories 2,500,000 Total Assets 8,532,500 Financed by: Ordinary Share Capital 4,000,000 Retained Earnings 2,067,500 Non-Current Liabilities 1.250,000 Current Liabilities Bank Overdraft 180,000 Trade Creditors 1.160,000 8,532,500 Ichigo Sdn. Bhd Statement of Comprehensive Income For the year ended 31 December 2019 RM Sales 8,000,000 Less: Cost of goods solds (6,250,000) Gross Profit 1.750,000 Less: Expenses Administration (450,000) Depreciation (400,000) Interest expenses (150.000) Profit Before Tax 750,000 Less: Tax (210.000) Profit after Tax 540.000 Industry Average Current Ratio Quick Ratio Average Collection Period Debt Ratio 2.2x 0.7% 40 days 35% Times Interest Earned Net Profit Margin Return on assets 5.5x 7.4% 7.77% Additional information: (i) 80% of total sales is credit sales. Use a 360-day per year to calculate the ratios. Required: a. Calculate the above ratios for Ichigo Sdn. Bhd. for the financial year 2019. (16 marks) Comment the ratios whether 'Good' or "Bad' condition with the comparison to industry average. (7 marks) b. b. State TWO (2) limitations of ratio analysis. (2 marks) (TOTAL: 25 MARKS)