Perform vertical analysis on the balance sheet and comment on results.

EXHIBIT 2: BALANCE SHEET 2017-18 2018-19 2019-20 Assets Current assets Cash and cash equivalents Accounts receivable Inventories 6,247 46,853 49,976 15,617 234,265 234,265 16,554 327,971 351,397 Non-current assets Fixed assets (net of depreciation) 294,324 325,553 606,677 397,400 809,700 1,302,599 Total Liabilities & Equity Current liabilities Long-term borrowings Retained earnings 40,606 114,946 56,848 269,873 193,034 161,793 434,171 390,442 292,986 Equity share capital 185,000 185,000 185,000 397,400 809,700 1,302,599 Total Source: AMC's financial statement