Conduct comparative income statement and balance sheet of the company. What are the main conclusions that can be derived from the comparative financial statements?

BALANCE SHEET AT 31 December 2018 and 2019 ASSETS 2018 2019 Current assets Cash 9,000.00 7,282.00 Accounts receivable 351,200.00 632,160.00 Inventories 705,200.00 1,272,360.00 Prepaid expense 10,000.00 15,000.00 Short-term investments 48,600.00 20,000.00 Total current assets 1,124,000.00 1,946,802.00 Non-curren assets Gross fixed assets 391,000.00 1,102,950.00 Less; Accumulated depreciation (146,200.00) (263,160.00) Long-term investments 100,000.00 100,000.00 Total non-current assets 344,800.00 939,790.00 Total Assets 1,468,800.00 2,886,592.00 145,600.00 324,000.00 200,000.00 720,000.00 136,000.00 284,960.00 481,600.00 1,328,960.00 LIABILITIES AND EQUITY Current liabilities Accounts payable Notes payable Accruals Total current liabilties Non-current liabilities Long-term debt Total non-current liabilties Total Liabilities Equity Common stock Retained earnings Total Equity Total Liabilities and Equity 323,432.00 1,000,000.00 323,432.00 1,000,000.00 805,032.00 2,328,960.00 460,000.00 460,000.00 203,768.00 97,632.00 663,768.00 557,632.00 1,468,800.00 2,886,592.00 INCOME STATEMENT FOR THE YEARS ENDED 31 December 2018 and 2019 2018 2019 Sales 3,603,600.00 6,126, 120.00 Cost of goods sold 3,007,200.00 5,162,405.00 Gross profit 596,400.00 963,715.00 Operating expenses Depreciation expense 18,900.00 116,960.00 Interest expense 62,500.00 176,000.00 Other expense 368,400.00 765,891.00 Income before tax 146,600.00 (95,136.00) Taxes 58,640.00 Net income (loss) 87,960.00 (95,136.00)