The questions are to compare the company's results with:

a) Industry average for liquidity ratio

b) Industry average for solvency ratio

c) Industry average for profitability ratio

Please, I need this solved today as exams are next tomorrow! Thank you very much!

Manutech Ltd.'s industrial product sales were down in 2017 . Fortunately, after investing in a customer relationship management system, it was able to turn its operations around in 2018 . Selected financial statements follow: MANUTECH LTD. Statement of Financial Position December 31 Assets 2018 Current assets \begin{tabular}{lrr} Cash & $30,000 & $79,500 \\ Accounts receivable & 150,000 & 105,000 \\ Inventory & 112,000 & 90,000 \\ Total current assets & 292,000 & 274,500 \\ Property, plant, and equipment (net) & 1,100,000 & 965,000 \\ Intangible assets & 120,000 & 120,000 \\ \hline Total assets & $1,512,000 & $1,359,500 \\ \hline \end{tabular} Liabilities and Shareholders' Equity Liabilities Current liabilities Accounts payable Accrued liabilities \begin{tabular}{rrr} $65,000 & & $72,500 \\ 15,000 & 20,000 \\ 85,000 & 0 \\ 20,000 & & 20,000 \\ \cline { 1 - 1 } 185,000 & & 112,500 \\ 630,000 & & 650,000 \\ \cline { 1 - 1 } 5 & & 762,500 \\ \cline { 1 - 1 } 5 & & \end{tabular} Shareholders' equity Common shares, 10,000 shares issued 100,000100,000 Retained earnings Total shareholders' equity Total liabilities and shareholders' equity Additional information for 2021: 1. Assume all sales were credit sales. 2. Manutech has no bad debts and no allowance for doubtful accounts. 3. Property, plant, and equipment increased in 2021 by the $300,000 cost of a new customer relationship management system and decreased by additional accumulated depreciation for the year of $165,000. 4. $20,000 of the mortgage was repaid in 2021 . 5. Cash dividends paid during the year amounted to $170,000. 6. Selected industry averages for 2021 : Ratio Industry Average Asset turnover 0.8 times Average collection period 28 days Current ratio 2.0:1 Days in inventory 40 days Debt to total assets 50.0% Gross profit margin 44.5% Profit margin 15.1% Return on assets 12.5% Times interest earned 5.0 times Vertical Analysis of Income Statement of MANUTECH LTD. for the Year Ended December 31 Compare the company's results with the industry average for liquidity ratios. Compare the company's results with the industry average for solvency ratios. Compare the company's results with the industry average for profitability ratios