AP12-20 (Ratio analysis over time) its existence, The following information comes from the accounting records of Hercep Ltd. for the first three years of 2016 2015 2014 Statement of Financial Position Assets 25,000 20,000 22,500 Cash 50,000 145,000 67,500 Accounts receivable 220,000 130,000 110,000 Inventory 500,000 430,000 450,000 Capital assets (net) 232,000 266,400 210,000 other assets $862,000 $860,000 $1,156,400 Liabilities and equity 50,000 100,000 Accounts payable $100,000 200,000 500,000 Long-term debt 250,000 525,000 Common shares 525,000 525,000 37,000 Retained earnings 31,400 35,000 $860,000 $862,000 $1,156,400