Indicate, by using ratios, the change in liquidity and profitability of Priscoll Company from 2018 to 2019. (Note: Not all profitability ratios can be computed nor can cash-basis ratios be computed.) The following financial information is for Priscoll Company. PRISCOLL COMPANY Balance Sheets December 31 Cash Debt investments (short-term) Accounts receivable Inventory Prepaid expenses Land Building and equipment (net) Total assets Liabilities and Stockholders' Equity Notes payable Accounts payable Accrued liabilities Bonds payable, due 2022 Common stock, $10 par Retained earnings Total liabilities and stockholders' equity $ 70,000 55,000 104,000 230,000 25,000 130,000 260,000 $874,000 $ 65,000 40,000 90,000 165,000 23,000 130,000 185,000 $698,000 $170.000 65.000 40,000 250.000 200,000 149.000 $874,000 $120,000 52,000 40,000 170,000 200,000 116,000 $698,000 PRISCOLL COMPANY Income Statements For the Years Ended December 31 2019 2018 Sales revenue $882,000 $790,000 Cost of goods sold 640,000 575,000 Gross profit 242.000 215,000 Operating expenses 190,000 167,000 Net income $ 52,000 $ 48,000 Additional information: 1. 2. 3. 4. 5. Inventory at the beginning of 2018 was $115,000. Accounts receivable (net) at the beginning of 2018 were $86,000. Total assets at the beginning of 2018 were $660,000. No common stock transactions occurred during 2018 or 2019. All sales were on account