Given the information below
 

a. The firm seems to have adequate liquidity but insufficient capital.

b. The firm has insufficient liquidity and sufficient capital.

c. The firm has sufficient liquidity and insufficient capital.

d. The firm seems to have insufficient liquidity and insufficient capital

20x1 20x2 20x3 Current Ratio 1 to 1.23 1.15 1.35 Acid Test 1 to 0.29 0.28 0.32 Credit Given (days) 5.95 5.97 6.14 Credit Taken (days) 14.41 14.42 11.84 Stock Turnover (days) 84.07 81.43 75.57 Gross margin 5.4% 7.3% 7.5% Net margin 2.6% 4.9% 4.7% Interest Cover (times) 1.97 3.08 2.67 Net Gearing % per $1 of equity 62% 57% 67% Net working assets to sales P% 15% 14% 14% Retained Profits to sales 0.7% 3.0% 2.8%