SECTION 7 [19 marks] Part A [7 marks] Eel Ltd sells seafoods to small retailers on credit. Shown below are the calculations of some of its key ratios for 2021 and 2020. Note: if required, ratio formulae are provided at the bottom of this page. Quick Ratio 2021 0.46 times 2020 Return on Assets 6.48% 0.78 times 9.51% Days in debtors 29.2 days 31.3 days Return on Equity 16.0% 16.1% Debt to Equity 146.9% 69.3% Profit Margin Current Ratio 4.13% 4.22% 1.62 times 1.13 times Inventory turnover 4.0 times 6.4 times Required: a. Based on the ratios above, evaluate the profitability of the company over the 2 year period. (no more than 50 words required) [4 marks]. b. Explain whether you believe liquidity has improved or not, and the reasons for your conclusions. (no more than 50 words required) [3 marks]