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SpotSpot Pty. Ltd.'s most recent summary of key financial information as presented below:
Financial Ratios
2019 2020
Current Ratio 1.3 : 1 2.0 : 1
Quick Ratio 1.4 : 1 0.9 : 1
Accounts Receivable Turnover 6.8 times 8.4 times
Inventory Turnover 3.8 times 2.6 times
Return on Assets 9.7 cents 12.4 cents
Return on Equity 10.2 cents 13 cents
Required:
Problem (a) Is the 2020 inventory turnover ratio for SpotSpot Pty. Ltd. a progress or a regress? Explain your answer.
Problem (b) Is the 2020 accounts receivable turnover ratio for SpotSpot Pty. Ltd. a progress or a regress? Explain your answer.
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