(3) Extended exercise Phillip Co. and Sarkis Inc. recently published their annual reports. As a prospective investor, you're interested in finding out about their cash holdings, and seeing how the businesses compare. Some of their financial data is provided below. Please note that all amounts for the accounts (other than cash and cash equivalents at 30 June 2024) are stated as at 30 June 2025. Phillip Co. Sarkis Inc. Cash and cash equivalents at 30 June 2024 $240 136 299 000 Cash flows from operating activities 50 000 80 000 Total assets 400 000 460 000 Dividends 12 000 0 Cash flows from financing activities 8 050 25 000 Cash and cash equivalents at 30 June 2025 286 190 350 000 Accounts receivable 45 000 22 000 Capital expenditure 16 000 50 000 Current assets 350 000 399 000 Cash flows from investing activities 19 000 (6 500) Required A. Using MS Excel, conduct horizontal and vertical analysis for the account 'cash and cash equivalents, and interpret your results. Express your answer as a % and round your answer to two decimal places. Please note that you only need to complete vertical analysis of cash and cash equivalents for the year 2025. B. In the same MS Excel spreadsheet, calculate free cash flow for each company and interpret your results. C. Comment on how the cash positions of each company compare based on the results of your horizontal and vertical analysis