PL (Liquidity and profitability analysis) Cathy's Cuisine Ltd. is a small restaurant and catering business started three years ago by Cathy Crosby Initially the company's operations consisted of a small diner. In 2019, the company added the catering services as a way to expand sales without having to add space for seats. As the catering side of the business grew in 2020, the company purchased the vehicle for deliveries. All sales in the diner are canh, debit, or credit card, but for catering jobs, customers are invoiced after the event. Most of the company's suppliers offer terms of 30 days. Selected financial Information for Cathy's Cuisine Ltd, follows 2012 Assets Cash $9.190 $3.090 Accounts receivable 15.220 9,390 Inventory 9.890 5.80 Land 13.970 12970 Building and equipment 32.140 26540 Total assets 580.410 558.790 Liabilities and equity Accounts payable 59.970 57.520 Short-term notepayable 1820 000 3 a 5 G 7 3 o Q w E R T Y S D F G K N V B M N H 6 otion command Total assets $80,410 $58.790 Liabilities and equity Accounts payable $9,970 $7.820 Short-term note payable 1,820 0 Mortgage payable current 2,320 2,320 Mortgage payable 20,880 23,200 Share capital 12,000 12,000 Retained earnings 33,420 13,450 Total liabilities and equity $80,410 $58,790 Other information Sales $189.240 $143.110 Cost of goods sold 72,840 80.190 Net income 19.970 5.960 Assume the growth in sales in 2020 is primarily from the catering business. Calculate the g (Round answers to 1 decimal place, e-8. 15.1%.) Assume the growth in sales in 2020 is primarily from the catering business. Calculate the gross margins and the profit margin Round answers to 1 decimal place. es. 15.1%) 2020 Gross margin Profit margin Calculate the company's current ratio and quick ratio for both years. (Round answers to 2 decimal places, 31.8m) Current ratio times times Quick ratio time OOC 3 5 6 & 7 8 9 { E R T