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Question 6 [5 points) The following financial statements are for Vision Consulting Inc. Vision Consulting Inc. Income Statement For Years Ended December 31, 2014, 2013, and 2012 2014 2013 Sales 893,800 794,900 Cost of goods sold 303,000 395,000 Gross profit from sales 590,800 399,900 Operating expenses 147,400 125,100 Operating income 443,400 274,800 Interest expense 4,300 3,850 Income before taxes 439,100 270,950 Income taxes 36,100 40,200 Net income 403,000 230,750 2012 696,400 430,700 265,700 122,800 142,900 4,600 138,300 49,700 88,600 Vision Consulting Inc. Balance Sheet December 31, 2014, 2013, and 2012 Assets 2014 Cash 40,900 Short-term investments 85,000 Accounts receivable, net 37,300 Merchandise inventory 104,700 Prepaid expenses 8,500 Notes receivable, due in 2017 5,500 Property, plant and equipment, net 359,000 Total assets 640,900 Liabilities and Equity Accounts payable 16,300 Salaries payable Income taxes payable 37,800 Long-term note payable secured by mortgage on plant assets 40,000 Share capital 240,000 Retained earnings 301,800 Total liabilities and equity 640,900 2013 43,800 89,000 33,800 88,100 9.200 5,000 360,000 628,900 2012 39,800 83,000 33,800 93,900 9,600 5,000 301,000 566,100 5,000 13,800 6,000 36,550 43,000 250,000 279,550 628,900 12,300 5,400 35,150 48,000 270,000 195,250 566,100 Compute the acid-test ratio below, and indicate whether the change from year to year is favourable or unfavourable. For your analysis, assume that all other things have remained constant. Apply your analysis in very general terms. All values should be accurate to at least two decimal places. Ratio 2014 2013 Measure of (select one) Acid-test ratio Analysis (select one)