The following information are extracted from the books of EZY Enterprise for the year ended 30 June 2021 RM Gross profit 170,100 Total other income 24,700 Total operating expenses 88,000 Total non-current assets 450,000 Total current assets 95,000 Account receivables 33,000 Inventory as at 1 July 2020 25,000 Inventory as at 30 June 2021 19,400 Total non-current liabilities 110,000 Total current liabilities 65,000 Capital as at 1 July 2020 263,200 Additional information: 1. Net sales during the year amount RM243,000 2. Net credit sales are 60% from the net sales. 3. Cost of goods sold is 30% of total net sales. 4. Assume that there are 365 days in a year. Required: a. Based on the information given above, compute the following ratios: i. Quick ratio ii. Gross profit margin iii. Net profit margin iv. Inventory turnover ratio v. Average collection period (8 marks) b. Based on your answer in (a) above, explain the following ratios: i. Quick ratio ii. Net profit margin ill. Inventory turnover ratio iv. Average collection period (4 marks) c. State whether each of the following statements is TRUE or FALSE. 1. Net profit margin can be used to measure the performance of the business entity. ii. Inventory turnover ratio is used by the creditor to know the business's ability to pay debts. iii. Quick ratio is the measure of liquidity position of the business entity