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Selected financial ratios of Tango Ltd. and Cash Inc., two companies competing in the same industry, are as follows: Tango Ltd. Cash Inc. Current ratio

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Selected financial ratios of Tango Ltd. and Cash Inc., two companies competing in the same industry, are as follows: Tango Ltd. Cash Inc. Current ratio 2.2:1 2.2:1 Receivables turnover 33.5 times 29.5 times Inventory turnover 7.7 times 6.2 times Asset turnover 1.75 times 1.60 times Return on assets 16.75% 15.25% Return on common shareholders' equity 22.33% 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. Identity, analyze, and explain the profitability ratios for Tango Ltd. and Cash Inc. Which company was more profitability in 2020

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