The following are extracted from Charles Corporation's Statement of Financial Position as at 30 September 2020:- Current Assets Cash 4,000 Marketable Securities 8,000 Accounts Receivable 100,000 Inventories 120,000 Prepaid Expenses 1,000 Total Current Assets 233,000 Current Liabilities Notes Payable 5,000 Accounts Payable 150,000 Accrued Expenses 20,000 Income Tax Payable 1,000 Total Current Liabilities 176,000 REQUIRED: a) i) Perform calculation of the following:- Working capital, ii) Current ratio, and b) iii) Quick ratio (2 marks) (2 marks) (2 marks) Based on the answers to part (a), explain with reason whether Charles Corporation has good or poor liquidity if the industry averages are at a current ratio of 1.30 and a quick ratio of 1.02. (8 marks)