Book Pr ferences Exercise 17-13 Evaluating profitability LU4 Spence Resources Inc.'s December 31 incomplete balance sheet information follows along with additional information: Accounts payable Accounts receivable, net Cash Common shares Long-term notes payable due 2023 Inventory Plant assets, net Prepaid expenses 2020 $361,520 2019 2018 $211,300 138,500. 261,820 72,820 461,000 176,616 138,060 98,734 103, 340 461,000 461,000 276,000 290,000 234,000. 315,200 234,000 151,400. 783,000 27,400 720,000 648,600 26,760 46,100 shares were issued and outstanding for all three years. 11,440 Common shares market price Annual cash dividends declared per share t Required: December 31, 2020 2019 $30.00 $34.00 1.20 8.90 1. Prepare a three-year comparative balance sheet for Spence Resources Inc. (Enter all amounts as positive values.) SPENCE RESOURCES INC. Balance Sheet December 31 2020 2019 2018 Assets Current assets www Next> Required: 1. Prepare a three-year comparative balance sheet for Spence Resources Inc. (Enter all amounts as positive values.) SPENCE RESOURCES INC. Balance Sheet December 31 Assets Current assets Jok m ences Total current assets Total assets Liabilities Total liabilities Equity 2020 2019 2018 Total equity Total liabilities and equity 2. To evaluate the company's profitability, calculate the ratios for each year shown in the following schedule and determine whether the change was favourable or unfavourable. (Round EPS and the final answers to 2 decimal places.) 2020 2019 a Return on common shareholders' equity b. Price-earnings c Dividend yield Favourable or Unfavourable