Joshua \& White Technology: Income Statements for Year Ending on December 31 (Thousands of Dollars) a. Has J\&W's liquidity position improved or worsened? Explain. The firm's current ratio has and the quick ratio has , indicating that J\&W's liquidity position has b. Has J\&W's ability to manage its assets improved or worsened? Explain. Assume that there are 365 days in a year. The firm's inventory turnover has the DSO has the fixed assets turnover has and the total assets turnover has , indicating that J\&W's ability to manage its assets has c. How has J\&W's profitability changed during the last year? The firm's profit margin has , the basic earning power has , the return on assets has , and the return on equity has , indicating that J&Ws profitability has Joshua \& White Technology: December 31 Balance Sheets (Thousands of Dollars) Joshua \& White Technology: Income Statements for Year Ending on December 31 (Thousands of Dollars) a. Has J\&W's liquidity position improved or worsened? Explain. The firm's current ratio has and the quick ratio has , indicating that J\&W's liquidity position has b. Has J\&W's ability to manage its assets improved or worsened? Explain. Assume that there are 365 days in a year. The firm's inventory turnover has the DSO has the fixed assets turnover has and the total assets turnover has , indicating that J\&W's ability to manage its assets has c. How has J\&W's profitability changed during the last year? The firm's profit margin has , the basic earning power has , the return on assets has , and the return on equity has , indicating that J&Ws profitability has Joshua \& White Technology: December 31 Balance Sheets (Thousands of Dollars)