The following is the financial statement for Tribute Sdn Bhd (TSB). TSB operates a silver related business. Tribute Sdn Bhd Income statement for the year ended 31 December 2020 RM Industry Average (%) Net sales 650.000 100 (cash sales RM300,000) Cost of goods sold 384.000 74.2 Gross profit 266,000 25.8 Administrative expenses 190.000 225 Operating profit 76,000 3.3 Other expenses (3.000) 02 Profit before tax 73,000 3.1 Income tax expenses (5.000 0.7 Net profit 68,000 2.3 2019 (RM) 46,000 Tribute Sdn Bhd Statement of financial position as at 31 December 2020 and 2019 2020 (RM) Noncurrent asset 85.000 Current asset: Cash 10,000 11,000 Marketable securities 10,000 15,000 Trade receivables (net) 35,000 25,000 Inventory 55,000 40,000 Expenses-prepayment 6,000 5,000 Total current asset 116,000 Total Asset 201,000 96,000 142,000 Liabilities and owner equity Current liability 60.000 50.000 6,000 5.000 Expenses - prepayment Total current asset Total Asset 116,000 201,000 96,000 142,000 Liabilities and owner equity: Current liability Noncurrent liability Owner's equity Total Liability and Owner's Equity 60,000 15,000 126,000 50,000 10,000 82,000 201,000 142,000 The average ratios for the silver industry are as follows: Ratio Current ratio Quick ratio Trade receivable turnover Inventory turnover Asset turnover Net profit margin Return on asset Debt ratio Industry Average 1.8:1.0 1.1:1.0 12 times 4.8 times 2.3 times 11% 40% 38% 6 Required: Calculate the following ratios and compare it with industry average year 2020. Explain your analysis results. a) Current ratio. ( b) Quick ratio. ( c) Trade receivable turnover. d) Inventory turnover. ( e) Asset turnover. (3 f) Net profit margin ( g) Return on asset. h) Debt ratio