November 30 (millions of $) 2020 Cash $ 215 Accounts receivable (net) 290 Plant and equipment (net) 1,456 Accounts payable 7e Long-term notes payable 975 Preferred shares 175 Common shares Retained earnings 86 2019 $ 603 327 1,630 146 1,295 175 655 289 2018 $ 628 146 1,926 304 1,455 175 655 111 655 The preferred shares are $0.50, non-cumulative 80 million preferred and 320 million common shares were issued and outstanding during each year. Tia's Trampolines Inc. Income Statement For Year Ended November 30 (millions of 5) 2020 2019 2018 Net sales $4,228 $6,548 $6,860 Cost of goods sold 2,819 4,443 4,667 Gross profit $1,401 $2,097 $2,193 Operating expenses: Depreciation expense $ 326 $ 326 $ 326 Other expenses 422 1,278 1,474 Total operating expenses 748 1,684 1,8ee Profit from operations $ 653 5 493 $ 393 Interest expense 88 107 117 Income tax expense 177 129 94 Profit $ 388 $ 257 $ 182 ) Required: Calculate Tla's Trampolines Inc's profitability ratios for 2020. Also identify whether each of Tla's Trampolines Inc's profitability ratios compares favourably or unfavourably to the Industry average. (Round the final answer to 2 decimal places. Input all positive values.) 2020 FIU Industry Average 14 % % % 18 % 20% % 1. Profit margin 2. Gross profit ratio 3. Return on total assets 4. Return on common shareholders' equity 5. Book value per common share 6. Book value per preferred share 7. Earnings per share % 32.7% S 8.63 S 15.00 S 1.79 Analysis Component: Calculate the sales, accounts receivable, cost of goods sold, and accounts payable for the three years 2020, 2019, and 2018 using 2018 as the base year. (Round the final answer to 2 decimal places. Indicate if varlance trend is favorable/unfavorable. Input all positive values.) 2020 2019 2018 FIU % % % % Net sales Accounts receivable Cost of goods sold Accounts payable % % % ve % %