(Total 12 marks) Question 7 The following is selected information from the comparative financial statements of Roger Homewares Ltd for the year ended 31 December 2020: 2019 2020 Cash at Bank $80,000 $90,000 Accounts receivable (net) 225,000 275,000 Inventory 55,000 75,000 Total assets 700,000 800,000 Current liabilities 250,000 220,000 Long-term debt 350,000 250,000 Net credit sales 700,000 550,000 Cost of goods sold 200,000 300,000 Interest expense 35,000 25,000 Income tax expense 60,000 29,000 Net profit 100,000 75,000 Net cash provided by operating activities 250.000 175,000 a) Calculate the following ratios for 2020 to one decimal place: a) current ratio (2 marks) b) quick ratio (2 marks) c) receivables turnover ratio (2 marks) d) Inventory turnover ratio (2 marks) e) profit margin (2 marks) b) Comment on the overall liquidity position of Roger Homewares Ltd. (2 marks)