estion 1 [5 points] following financial statements are for Zcom Inc. Zcom Inc. Income Statement For Years Ended December 31, 2014, 2013, and 2012 2014 2013 Sales 721,600 797,700 Cost of goods sold 197,600 228, 100 Gross profit from sales 524,000 569,600 Operating expenses 124,900 114,500 Operating income 399, 100 455,100 Interest expense 9.450 9,650 Income before taxes 389,650 445 450 Income taxes 127,200 109.200 Net income 262,450 336,250 2012 685,600 227.100 458,500 101,900 356,600 8,700 347,900 109.200 238.700 Zcom Inc. Balance Sheet December 31, 2014, 2013, and 2012 Assets 2014 Cash 39,300 Short-term investments 21,000 Accounts receivable, net 49,600 Merchandise inventory 13,600 Prepaid expenses 6,400 Notes receivable, due in 2016 9,500 Property, plant and equipment, net 465,000 Total assets 604,400 Liabilities and Equity Accounts payable 33,500 Salaries payable 7,700 Income taxes payable 50,450 Long-term note payable secured by mortgage on plant assets 93,000 Share capital 120,000 Retained earnings 299,750 Total liabilities and equity 604,400 2013 40,300 18,000 42,900 13.900 6,300 9,500 489,000 619,900 2012 46,100 23,000 48,100 15,600 6,400 11,000 473,000 623,200 33,600 8,800 51,500 85,000 160,000 281,000 619,900 36,000 10,700 54.500 87 000 160.000 275,000 623,200 ompute the acid-test ratio below, and indicate whether the change from year to year is favourable or unfavourable For your analysis, assume that all other things have remained constant pply your analysis in very general terms. All values should be accurate to at least two decimal places Ratio 2014 2013 Measure of Analysis Acid-test ratio (select one) (select one)