True or false?

1. A rule of thumb for the current ratio is to look for a ratio greater than one.

2. Your firm has a current ratio of 1.99, but your firm's quick ratio id 0.54. This may indicate your firm has an account receivable issue.

3. You recently reviewed the earning per share of your firm, and you found out the firm earned $1.25 per share. The industry average was $1.50. Based on this information, your firm lags the industry performance.

4. Inventory is the main difference between the quick ratio and the current ratio.

5. A high total asset turnover ratio indicates the firm is good at generating sales with its asset structure.