1) BC Logging Corporation's 2020 income statement and balance sheet are found below: 2017 98,000 10,000 110,000 48,000 266,000 BC Logging Corporation Balance Sheet For the Year Ended December 31, 2018 2018 Assets Current Assets Cash and cash equivalents 105,000 Investments 15,000 Accounts Receivable 125,000 Inventory 58,000 Total Current Assets 303,000 Non-Current Assets Investments 75,000 PPE (net) 1,300,000 Total non-Current Assets 1,375,000 Total Assets 1,678,000 Liabilities and Shareholders Equity: Current Liabilities Accounts Payable 200,000 Accrued Liabilities 50,000 Unearned Revenue 12,000 Current Portion of LT Debt 18,500 Total Current Liabilities 280,500 Non-Current Liabilities Long Term Debt 650,000 Total Liabilities 930,500 50,000 1,350,000 1,400,000 1,666,000 230,000 65,000 8,000 25,000 328,000 700,000 1,028,000 Shareholders Equity Contributed Capital Common Shares, 120,000 shares authorized 70,000 issued and outstanding 465,000 465,000 125,000 58,000 303,000 110,000 48,000 266,000 Accounts Receivable Inventory Total Current Assets Non-Current Assets Investments PPE (net) Total non-Current Assets 75,000 50,000 1,300,000 1,350,000 1,375,000 1,400,000 1,678,000 1,666,000 230,000 Total Assets Liabilities and Shareholders Equity: Current Liabilities Accounts Payable Accrued Liabilities Unearned Revenue Current Portion of LT Debt Total Current Liabilities Non-Current Liabilities Long Term Debt Total Liabilities 200,000 50,000 12,000 18,500 280,500 65,000 8,000 25,000 328,000 650,000 930,500 700,000 1,028,000 465,000 465,000 Shareholders Equity Contributed Capital Common Shares, 120,000 shares authorized 70,000 issued and outstanding Preferred Shares, $0.5, cumulative, 45,000 outstanding Total Contributed Capital Retained Earnings Total Shareholder's Equity Total Liabilities and Shareholder's Equity 110,000 60,000 575,000 172,500 525,000 113,000 747,500 1,678,000 638,000 1,666,000 BC Logging Corporation Income Statement For the year ended December 31, 2018 2018 2017 2016 Sales 890,000 750,000 600,000 Cost of Goods Sold 600,000 545,000 436,000 Gross Profit 290,000 205,000 164,000 Selling and Admin Costs 195,000 145,000 116,000 Profit From Operations 95,000 60,000 48,000 interest Expense 4,900 4,500 3,600 Profit Before taxes 91,100 55,500 44,400 Income Tax Expense 27,330 16,650 13,320 Net Profit 63,770 38,350 30,680 . . a) Calculate the following ratios and explain whether it is increasing or decreasing profitablility, Cost of goods sold to sales Selling and Admin costs to Sales Interest Expense to sales Profit Margin Return on Assets Return on Shareholder's Equity Asset Turnover Ratio . . hl Caminate the follantinforto a) Calculate the following ratios and explain whether it is increasing or decreasing profitablility. Cost of goods sold to sales Selling and Admin costs to Sales Interest Expense to sales Profit Margin Return on Assets Return on Shareholder's Equity Asset Turnover Ratio . b) Compute the following ratios for 2018 and 2017 explain whether the trend is favourable or unfavourable Inventory turnover AR Turnover Current Ratio Quick Ratio Debt to Assets Ratio Interest Coverage Fixed Charge Coverage . . 21 Crninnn in it