The information shown below (Solvency Measures Table) depicts solvency ratios for Ace Company over a two-year period. The table also presents industry averages for the solv Analyze the data related to Ace Company and comment on its performance. SOLVENCY MEASURES Current ratio Quick ratio Ace Co. Ace Co. Current Year 2.5 1.2 1.2 48 4.7 Prior 7.6 7.9 77 Year 0.6 2.4 Accounts receivable Turnover Number of days' sales in Receivables Inventory turnover Number of days' sales in Inventory Ratio of fixed assets to long-term liabilities 3.6 Ratio of liabilities to stockholders' equity No. of Times Interest Charges Earned Using Microsoft Word, compose an initial response thread that answers each of the following three questions, MAKE SURE THAT YOUR RESPONSE INCLI EXPLANATION OF YOUR 8.2 46 4.6 3.6 Industry Average 0.7 2.2 8.0 1.0 10.1 79 85 36 4.3 3.7 0.9 9.5