Consider the following balance sheet of October Blues, 1970's clothing retailer. The information is on their performance in the previous two (2) financial years: Sales 2012: $125,000 2013: $130,000 The cost of goods sold (COGS) margin in both years was 50% of revenues. Profits 2012: $25,000 2013: 35,000 The tax rate is 40% and the interest expense was $5,000 each year. The company has had ten thousand shares on issues since 2011, with a share price of $13 on 30 June 2012 and $14 on 30 June 2013, Assume all 2011 balance sheet figures are 80% of the equivalent 2012 figure. Required a. Calculate three profitability ratios and comment on October Blues performance. b. Comment on the liquidity and solvency of October Blues in 2012 compared to 2013. How has it changed? Please provide at least two liquidity ratios & two solvency ratios to justify