The incomplete financial statements of Bloggs Ltd appear below: BLOGGS LTD Comparative financial information 2020 2019 Cash 25,000 40,000 Marketable securities 15,000 60,000 Accounts receivable (net) 50,000 30,000 Inventory 170,000 150,000 160,000 200,000 Property, plant and equipment (net) Total assets Accounts payable Short-term notes payable Bonds payable Ordinary shares Retained earnings Total liabilities and equity 400,000 20,000 40,000 80,000 170,000 90,000 400,000 360,000 500,000 30,000 90,000 160,000 145,000 75,000 500,000 520,000 240,000 280,000 120,000 160,000 35,000 Net sales Cost of sales 184,000 176,000 Gross profit Total expenses Profit before income taxes 74,000 102,000 30,000 Income tax expense Profit 72,000 125,000 Additional information: 1. Inventory balance in 2018 was $140,000 2. Receivables (net) balance in 2018 was $40,000. 3. The total asset balance in 2018 was $460,000 Required: (1) Using the financial statements, compute the following ratios for the Boggs Ltd for 2020 (2 marks). 1. Current ratio 2. Receivables turnover 3. Profit margin 4. Return on assets (2) By using ratios, explain the change in liquidity and profitability of Boggs Ltd from 2019 to 2020 (2 marks). Word limit: 100 (Type your response directly into the template in the text box below.)