Ratio	2019	2018	2017	Industry average 2019
Long-term debt	0.54	0.48	0.42	0.55
Inventory turnover	46.76	55.32	65.32	53.25
Total Assets	0.32	0.025	0.021	0.23
Days' sales in receivables	83	84	87	92.45
Debt to Equity	0.94	0.78	0.56	0.94
Profit Margin	0.10	0.11	0.09	0.07
Total Assest turnover	0.93	0.95	0.94	0.98
Quick ratio	1.09	1.02	0.92	1.05
Current ratio	1.41	1.49	1.59	1.31
Times interest earned	2.1	4.61	3.32	2.92
Equity multiplier	2.34	1.28	1.01	2.11

You have been hired as a financial analyst for Cowell Banking Institute (CBI). Your team is working on an independent assessment of Burrito and Quesadilla Inc. Burrito and Quesadilla Inc., a firm specialising in the production of ready meals from Mexico. Your assistant has provided you with data derived from the financial statements of Burrito and Quesadilla Inc. and their industry; you can find the information

Demonstrate a critical understanding of the key strategic financial statements of an organization 2. Understand and evaluate the uses of both quantitative and qualitative accounting information within an organization 3. Demonstrate cognitive skills of critical thinking and analysis showing how the finance function can make a significant contribution to the successful strategic management of an organization

Using the information, and based on the role you are assuming, answer the following questions:

a) In the annual report to the shareholders, the CEO of Burrito and Quesadilla Inc wrote, 2019 was a good year for the firm with respect to our ability to meet our short-term obligations. We had higher liquidity largely, than previous years due to an increase in highly liquid current assets (cash, account receivables and short-term marketable securities). Is the CEO correct? Explain and use only relevant information in your analysis.

b) What can you say about the firm's asset management? Be as complete as possible given the above information, but do not use any irrelevant information.