3. Island Marine Club provides extract from its Statement of Profit or Loss and Statement of Financial Position for the years ended 31 December 2019, 2020 and 2021. Extract-Statement of profit or loss and Statement of financial position Items ( in millions) 2019 2020 2021 Net Sales Revenue 678 779 600 Cost of sales 448 496 332 Gross Profit 230 283 268 Operating expenses 206 240 174 Interest 50 25 65 Taxation 11 30 87 Ordinary share capital (Equity) 1,000 850 700 Long-term liabilities 240 300 NIL Retained Earnings 350 400 250 Trade Receivables 350 700 550 Inventory 100 200 300 Cash at bank 80 90 100 Trade Payables 380 900 1,000 Accrued expenses 50 100 200 Required: Assess the financial performance (for the three years) of the organization (using ratio analysis). Show all your workings. (30 marks)