2018 $000 160 (96) 64 (30) (5) 2019 $000 200 (114) Income Statement for the Year Ended to 31 December Sales Cost of Goods Sold Gross Profit Operating expenses Debenture interest Net Profit Before Tax Tax Net Profit After Tax 86 29 (9) 9:302| cele (34) (5) 47 (12) 35 20 Less dividends payment: Preference Shares Ordinary Shares (2) (8) (10) (2) (10) (10) Retained Profit 10 23 Statement of Financial Position at 31 December 2018 $000 300 2019 $000 320 Non-current assets (net book value) Current assets Stocks Trade debtors Cash and bank 15 40 3 58 20 50 1 71 Total assets 358 391 25 35 50 50 Current liabilities Trade creditors Non-current liabilities Debentures (10%) Capital and reserves Share capital ($1 ordinary shares) Preference shares ($1 shares; 8%) Retained earnings 200 25 58 283 200 25 81 306 Total liabilities & equities 358 391 You are presented with the above information relating to Queenstown Resort World, as well as the following details: 1. All sales and purchases are on credit terms. 2. The opening stock at 1 January 2018 was $20,000. 3. There were no accruals or prepayments at the end of either 2018 or 2019. 4. Assume that both the tax and the dividends had been paid before the end of the year. 5. The market price of the ordinary shares at the end of both years was estimated to be 126 cents and 297 cents respectively. Required: a) Calculate appropriate liquidity, profitability, efficiency and investment ratios for both years 2018 and 2019. b) Comment briefly on the company's financial performance for the year to 31 December 2019