Comment (approx. 300 words) on the performance of the case business over the most recent two financial years (table below), regarding (1) profitability (including profit margins and efficiency ratios); (2) Short-term stability (liquidity); and (3) Long-term financial stability (leveraging/gearing). Note: do not simply 'describe' the ratios - 'explain' how a change in one ratio drives a change in another ratio, as well as the implications of continued trends in the ratio changes over time.

CALCULATION GRID LONG-TERM FINANCIAL STABILITY \begin{tabular}{|l|r|r|} \hline Debt/Asset Ratio & 24.13% & 28.78% \\ \hline Equity/Asset Ratio & 75.87% & 71.22% \\ \hline Debt /Equity Ratio & 0.32 & 0.40 \\ \hline Times interest earned & 12.73 & 0.98 \\ \hline \end{tabular}