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Problem - You have been provided with the following information for a small private company, Formosa Pty Ltd, whose competitors are predominately large public companies.
2017
2018
2019
Industry Average 2019
Net pro?t margin
8.2%
7.5%
6.8%
8.0%
Return on equity
13.1%
11.1%
13.5%
Current ratio
1.8
2.4
2.0
Quick ratio
1.2
0.9
Receivables turnover
12.2
13.0
Inventory turnover
4.7
4.2
4.8
REQUIRED -
(a) Comment on the trend of each of the six ratios for Formosa Pty Ltd in relation to the company's pro?tability and liquidity. For each ratio, describe what the ratio measures. (word limit 500).
(b) Explain the difference between liquidity and solvency when analyzing a company's ?nancial statements. (word limit 150).
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