Tutorial 3 Your audit firm has recently been engaged as the new auditor for Penang Products Berhad, for the audit of the financial statements for the year ended December 31, 2021. Penang Products is a medium sized trading company with its headquarters in Georgetown, Penang. You are in the process of reviewing the following calculations which was performed by the audit senior as part of the preliminary analytical procedures. The primary purpose of this information is to understand the client's business and financial condition to determine the potential impact on audit risk. Ratios 2021 | 2020 | 2019 | 2018 | 2017 Current ratio 2.08 | 2.26 | 251 | 243 | 250 Quick ratio 0.97 | 1.34 | 1.82 | 1.76 | 1.64 Times interest earned 3.50 | 3.20 | 4.10 | 5.30 | 7.10 Accounts receivable] 4.20 | 5.50 | 4.10 | 5.40 | 5.60 tumover Days to collect) 86.90 | 66.36 | 89.02 | 67.59 | 65.18 receivables Inventory tumover 203 | 1.64 | 268 | 3.34 | 3.36 Days to sell inventory 479.80 | 198.37 | 136.19 | 109.28 | 108.63, Net sales/tangible assets | 0.68 | 0.64 | 0.73 | 0.69 | 0.67 Profit margin 0.13 | 0.14 | 0.16 | 0.15 | 0.14 ROA 0.09 0.12 0.10 0.09 ROE 0.06 0.10 0.10 0.11 Earnings per share (RM) | 4.30 | 4.26 | 449 | 4.26 | 4.14 Required: (a) Critically discuss the major conclusions that can be drawn from the above information about the Company's financial condition. (b) Identify any additional information which would be helpful in your assessment of the Company’s financial condition. (c) Based on your analysis, critically discuss the aspects of the Company that should receive special emphasis in the audit.