The following are the comparative accounts for MM Enterprise for the financial year 2018 and 2017: 2018 2017 Accounts (RM) 300,000 (RM) 250,000 Sales Cost of goods sold Expenses Net profit Equipment Cash 60,000 50,000 80,000 80,000 160,000 120,000 420,000 10,000 500,000 8,000 Inventories 30,000 40,000 Debtors 12,000 14,000 Prepaid expenses Creditors 4,000 3,000 10,000 15,000 Accrued expenses 10,000 6.000 Bank loan 150,000 100,000 Total Equities 410,000 400,000 Required: Calculate (use two decimal points) the following ratios for 2018: (a) i. Current ratio. Quick ratio. Return on equity ii. iii. Return on asset iv. Debt to equity ratio. Debt to asset ratio. V. vi. (12 marks) (b) Following are the industry ratios for year 2018. Discuss the performance of MM Enterprise as compared to industry average. Ratio Types Return on equity 30% Return on asset -25% Current ratio 2.80 times Debt to asset ratio 30% (8 marks)