Account information from the comparative financial statements of Hopkins Ltd. for the year ended December 31 appears below: Accounts receivable Accounts payable Accumulated Depreciation Bonds Payable (due June 30, 2030) Building Cash Common Shares Cost of goods sold Depreciation expense Income tax expense Income tax payable Interest expense Interest payable Inventory Land Notes Payable (due in 6 months) Office supplies Operating expenses Prepaid insurance Retained Earnings, January 1st Sales (net credit) 2019 $129,000 62,000 60,000 200,000 280,000 95,000 100,000 510,000 30,000 20,000 4,000 39,000 7,500 74,000 120,000 40,000 5,500 275,000 20,000 174,000 950,000 2018 $48,900 51,000 30,000 200,000 280,000 42,000 100,000 390,000 30,000 18,000 3,800 32,000 6,000 55,000 120,000 0 2,900 240,000 16,000 64,000 820,000 REQUIRED: Using the information above (all accounts have a normal balance), calculate the following ratios for 2019 indicating whether it is a ratio (xx), a percentage (to 2 decimal places xx.xx), times (to 2 decimal places), or days (cannot have a part day): (1.5 marks each) Hint - if you prepare classified/multiple step financial statements first, it may be easier to do the calculations. 1. Current ratio 2. Return on common shareholders' equity 3. Receivables turnover 4. Average collection period 5. Times interest earned 6. Profit margin 7. Inventory turnover 8. Days in inventory 9. Return on assets 10. Gross profit margin 11. Debt to total assets 12. Asset turnover Using your answers from above, compare 2019 to 2018 and answer the following questions with favourable or unfavourable. 1. The change in the current ratio from 2018 to 2019 is 2. The change in Times Interest Earned ratio from 2018 to 2019 is 3. The change in Profit Margin from 2018 to 2019 is