In two or three sentences, evaluate the profitability and liquidity of the company below, given the information provided. You must include at least two ratio calculations to justify your answer. Debit Credit Cash 24,000 Revenue 361,000 Accounts receivable 12,300 Cost of goods sold 217,000 Accounts payable 18,000 Prepaid rent 1,000 Admin expense 18,500 Inventory 14,000 Salaries payable 5,000 Tax payable 2,400 Long-term bank loan 4,000 Salaries expense 78,600 Depreciation expense 14,000 Equipment (net) 196,000 Common shares 163,000 Rent expense 14,000 Retained earnings 36,000 589,400 589,400