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Selected ratios of Company X are shown below: 2021 2020 Inventory turnover 5.3 7.1 Days' sales uncollected 32.4 18.3 Days' purchases in accounts payable

Selected ratios of Company X are shown below: 2021 2020 Inventory turnover 5.3 7.1 Days' sales uncollected 32.4 18.3 Days' purchases in accounts payable 21.0 20.0 Total asset turnover 2.6 2.5 Equity ratio 0.8 0.8 Times interest earned N.A. N.A. Using the financial ratios provided, analyse the performance of Company X in 2021 compared to the previous year. (13 marks)

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