The following financial data relate to Big Bang Pty Ltd for the years ended 30 June Year 2019 and 30 June Year 2018. Financial item 30 June Year 2019 Year 2018 Net credit sales Cost of goods sold Cash Accounts receivable Inventory Current liabilities $630 000 290 000 18 000 70 000 130 000 105 000 $490 000 250 000 12 000 60 000 150 000 81 000 Additional information: The amount of Accounts receivables at 30 June Year 2017 was $78 000 (net). The inventory figure at 30 June Year 2017 was $130 000. The company provides its credit customers 30 days to pay. The average inventory turnover for the industry in which the company operates is 101 days. a. You are required to explain and calculate the following ratios for the years ended 30 June Year 2019 and 30 June Year 2018: current ratio; quick ratio; accounts receivable turnover (times and in days); and inventory turnover (times and in days). b. Comment on the short-term solvency, including the efficiency of the business, given the ratio results obtained in your answer in part a.