a Calculate all proflitability, liquidity and solvency ratios.

b Comment on Porch Poser's overall proflitability, liquidity and solvency

The following financial information is available for Porch Posers at 30 June: Comparative balance sheet 2020 2019 Cash $ 25000 $ 25000 Accounts receivable 30000 25 000 Inventory 75000 75000 Total current assets 130000 125000 Property, plant and equipment 400000 315000 at carrying amount Total assets 530000 440000 Accounts payable 40000 50 000 Other current liabilities 25000 40000 Total current liabilities 65000 90000 Debentures payable 75000 150 000 Total liabilities 140000 240000 Share equity 290 000 150000 Retained earnings 100 000 50000 Total shareholders' equity 390000 200000 Total liabilities and equity $530000 $440 000 During the period Porch issued 140 000 shares in addition to the 150000 already issued. The share price at 30 June 2020 was $11.00 2020 Income Statement Revenue $400 000 Cost of goods sold 210000 Gross profit 190 000 Operating expenses 55000 Profits before interest and taxes 135000 Interest expense 15000 Profits before income tax 120 000 Income tax expense 50 000 Net profits $ 70000 REQUIRED a Calculate all profitability, liquidity and solvency ratios. b Comment on Porch Poser's overall profitability, liquidity and solvency