The following amounts were reported by Sindarius Ltd. in its most recent statement of financial position: 2020 2019 $34,020 Cash and cash equivalents Accounts receivable (net) $97,680 272,160 207,570 Inventory 623,700 476,190 Prepaid expenses 17.010 16,280 Property, plant, and equipment (net) 1.173.100 1,242.300 Accounts payable 443,000 309,000 33,000 Wages payable Income tax payable 29,000 24,000 18.000 Unearned revenue 67,000 51,000 Long-term bank loan payable 816,000 886,000 Common shares 200,000 200,000 Retained earnings 536,990 547,020 The company had sales of $2,068,416 in 2020 and $2,179,485 in 2019. All sales were on account. (a) Your answer is correct. Calculate the current ratio and quick ratio for Sindarius Ltd. for the current and preceding year. (Round ratios to 2 decimal places, eg. 15.25.) 2020 2019 Current ratio 1.67 1.96 0.54 0.75 Quick ratio Current ratio Worsened Quick ratio Worsened Calculate Sindarius's accounts receivable turnover ratio and average collection period for the current and preceding years. For the accounts receivable turnover ratio, use the balance of accounts receivable at each year end for this calculation, rather than average balances. (Round accounts receivable turnover ratio to 2 decimal places, eg. 15.25 and average collection period to 1 decimal place, e.g. 15.1. Use 365 days for calculation) 2020 2019 Accounts receivable turnover ratio times times Average collection period days days Comment on whether these ratios have improved or worsened. Accounts receivable turnover ratio Average collection period