The following financial information has been taken from the year-end accounts of Wellington's Tulip Tower hotel. Year 20X1 20X2 Cash at bank $20,000 $24,000 Accounts receivable 11,500 13,500 Prepaid expenses 3,400 4,200 Inventory 10,900 12,000 Current liabilities 32,000 31,000 Long-term debt 250,000 232,000 EBIT 285,000 321,000 Interest on debt 16,000 14,300 Total assets 450,000 465,000 Required a For 20X1 and 20X2, calculate Tulip Tower's: i Current asset ratio ii Acid test ratio b From your answers to part a, comment on TulipTower's liquidity status in 20X1 and 20X2. For 20X1 and 20X2, calculate Tulip Tower's: i Debt to assets ratio ii Times interest earned d From your answers to part c, comment on TulipTower's trend with respect to long-term financial stability.