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The following selected ratios are available for Golden Star for the three most recent years: 2021 2020 2019 Current ratio 3.4:1 3.2:1 2.1:1 Receivables turnover
The following selected ratios are available for Golden Star for the three most recent years: 2021 2020 2019 Current ratio 3.4:1 3.2:1 2.1:1 Receivables turnover 4.7 times 5.7 times 7.3 times Profit margin 24% 15% 10% Inventory turnover 12 times 9.5 times 7.5 times Instructions 1. Has the company's collection of its receivables improved or deteriorated over these three years? 2. Is the company selling its inventory faster or slower than in past years? 3. Has the company's profit margin increase or decrease? Explain. 4. Overall, has the company's liquidity improved or deteriorated over these three years? Explain
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