Complete all questions please.

(Ratio analysis over time) The following information comes from the accounting records of Hercep Ltd. for the first three years of its existence: 2018 2019 2020 Statement of Financial Position Assets Cash Accounts receivable Inventory Capital assets (net) Other assets $23,200 68,300 104,000 423,000 234,000 $852,500 $19,500 58,000 139,000 458,000 202,000 $876,500 $26,900 144,000 234,000 504,000 266,000 $1,174,900 Liabilities and equity Accounts payable Long-term debt Common shares Retained earnings $107,000 202,000 522,000 21,500 $852,500 $53,500 252,000 522,000 49,000 $876,500 $107,000 504,000 522,000 41,900 $1,174,900 Statement of Earnings Sales Cost of goods sold Other expenses $695,000 (410,050) (166,000) 118,950 (35,685) $83,265 $760,000 (505,400) (226,000) 28,600 (8,580) $20,020 $975,000 (682,500) (224,000) 68,500 (20,550) $47,950 Income tax Net income Based on above information, analyze the changes in the company's profitability and liquidity, in addition to the management of accounts receivable and inventory from 2018 to 2020. (Round answers to 1 decimal place, e.g. 13.5% or 13.5.) 2018 2019 2020 Sales % % % Cost of goods sold % % % Gross margin % % % Other expenses % % % Income taxes % % % Net income % % % 2018 2019 2020 Current Ratio :1 :1 Quick Ratio :1 :1 A/R Turnover times times Average Collection Period days days Inventory Turnover times times Days to Sell Inventory days days Based on the above information, analyze the company's use of leverage from 2018 to 2020. (Round answers to 1 decimal place, e.g. 15.1%.) 2018 2019 2020 Debt to Equity % % % Return on Assets % % % Return on Equity % % %