Bayside, Inc. 2019 and 2020 Balance Sheets ($ in thousands) 2019 2020 2019 2020 Cash $ 70 $ 180 Accounts payable $1,350 $1,170 Accounts rec. 980 840 Long-term debt 720 500 Inventory 1.560 1.990 Common stock 3,200 3,500 Total $2,610 $3,010 Retained earnings 940 1.200 Net fixed assets 3,600 3,360 Total assets $6.210 $6.370 Total liabilities & equity $6,210 $6,370 1. Explain the main differences between Finance and Accounting (2 Marks) 2- Compute the cash flow from assets for 2020 (3 Marks) 3- Explain the different comparisons related to the application of the financial analysis (2 Marks) 4. By using 2 ratios, assess the liquidity of the company in 2019 and 2020 (4 Marks) 5- By using 2 ratios, assess the profitability of the company in 2019 and 2020 (4 Marks) TT T Arial 3 (12pt) T-E- E Question 2 15 points Save You have been provided with the following financial statements: ABC Inc. Income Statement ($ in thousands) 2019 2020 Net sales $5,000 $5,680 Less: Cost of goods sold 4,000 4,060 Less: Depreciation 400 420 Earnings before interest and taxes 600 1,200 Less: Interest paid 30 30 Taxable income 570 $1,170 Less: Taxes 200 410 Net income $ 370 $ 760 Bayside, Inc. 2019 and 2020 Balance Sheets ($ in thousands)