Problem #1 (30 marks) Prepare a ratio analysis for Halifax Sports Inc. using an excel spreadsheet. The firm has 2 million shares authorized and has 1 million shares issued and outstanding. Halifax Sports Inc. Balance Sheet($000) 2020 2019 Sales Revenues 160,000 125,000 75,000 Cost of Goods Sold 96,000 64,000 50,000 Contribution Margin Operating Expenses Salaries 11,000 16,000 10,000 11,000 12,500 Wages General/Admin Amort/Depr. 10,000 10,000 4,500 Interest 6,100 3,000 9,000 Earnings B4 Taxes 10,900 Taxes 5,450 4,500 Earnings After tax 5,450 4,500 Halifax Sports Inc. Balance Sheet($000) ASSETS 2020 2019 Current Assets Cash 485 9,000 Short-term Investments 10 Cert. of Deposit 5 Accounts Receivable 16,000 12,500 Inventory 45,500 29,000 Total Current Assets 62,000 50,500 Land 26,000 20,000 Buildings and Equipment 100,000 70,000 Accumulated Amortization 38,000 28,000 Net Plant & Equipment 88,000 62,000 TOTALASSETS 150,000 112,500 LIABILITIES and SHAREHOLDERS' EQUITY Current Liabilities Accounts Payable 22,000 10,500 Bank Note 40,000 10,000 Taxes Payable 2,500 2,000 Accrued Expenses 4,500 5,000 Total Current Liabilities 69,000 27,500 Long Term Debt First Mortgage Bonds 20,000 22,000 Debenture Bonds 2,950 6,750 Total Liabilities 22,950 28,750 Equity Common Shares 31,500 31,500 Retained Earnings 26,550 24,750 Total Equity 58,050 56,250 a) Using an excel spreadsheet calculate the following for both years: 30 marks NOTE: the use of the excel spreadsheet is mandatory and the excel spreadsheet must be embedded in the word document. Submitting a separate file to the spreadsheet is not acceptable. If the spreadsheet is not used, a mark of 0 will be applied to the