Common Collaborate 3) For each of the ratios listed below, indicate by the appropriate code letter, whether it is a liquidity ratio, a profitability ratio, or a solvency ratio (10) Code: L = Liquidity ratio Profitability ratio Solvency ratio P S 1. Price-earnings ratio 2. Asset turnover 3. Accounts receivable turnover 4. Earnings per share 5. Payout ratio 6. Current ratio 7. Acid-test ratio 8 Debt to assets ratio 9. Times interest earned 10. Inventory turnover 4) Horizontal analysis (trend analysis) percentages for Stein Company's sales, cost of goods sold, and expenses are listed here. (10) Horizontal Analysis 2017 2016 2015 Sales 98.2% 104.8% 100.0% Cost of goods sold 102.5 98.0 1000 Expenses 108.6 96.4 100.0 Instructions Explain whether Stein's net income increased, decreased, or remained unchanged over the 3-year period