The below data are taken partially from NiceFam, Pty, Ltd's comparative balance sheet at the end of FY 2021. The company director planned to expand and apply for a loan from the bank and asked for your help in analysing the company's current liquidity. She particularly expressed her concern about the length of collecting cash from customers' receivables in 2021.

	30 June	30 June	Horizontal
Assets:	2021	2020	Analysis
Current assets:
Cash	$22,200	$73,000	-70%
Accounts receivable	105,000	60,000	75%
Inventory	47,000	14,000	236%
Supplies	23,000	21,000	10%
Total current assets	$197,200	$168,000	17%
Current liabilities:
Accounts payable	$26,000	$9,000	189%
Interest payable	1,000	1,000	0%
Current portion of long-term debt	15,000	0
Income tax payable	37,000	46,000	-20%
Total current liabilities	$79,000	56,000	41%

Additional information: Sales revenue are all on credit $950,000 and $775,000 for 2021 and 2020 respectively. The 2019 ending balance of accounts receivable was $37,000.

Required: (on the answer space provided below)

a. Name and calculate the two primary liquidity ratios for each financial year. (6 marks)

b. Name and calculate two proper ratios you will use for each financial year to address the director's concern. (8 marks)

c. Explain your analysis of the companys liquidity and respond to the director's concern based on the horizontal analysis and your ratio calculations (a and b above). (10 marks)