Question 3, (5 Marks) Financial Statement Analysis 1. Attached are the financial statements of GDK MEGA Corporation for the years ended 2017, 2016. Perform the following a) a Horizontal analysis (Common size statements) of Current Assets, Non-Current assets, Current Liabilities, Non-Current Liabilities Equity, Sales, Cost of Goods Sold, Gross Profit, Total Seling Expenses, Total Administrative Expenses, Income from Operations, Net income. For the ratio analysis use the following ratios and ratios disclosed on page 713 in the book. - Current ratio current assets / current liabilities b) Ratio Analysis with related explanation. Refer to the book Demonstration Problem 715-718 Quick ratio current assets-inventory / current liabilities Accounts receivable turnover Sales net / Average accounts receivable Days sales outstanding 365 days/Accounts receivable turnover Inventory turnover Cost of goods sold/ Average inventory -Debt to equity ratio = Total liabilities / total equity Debt to total assets ratio = Total liabilities , total assets working capital ; Current assets-current liabilities -Profit margin to sales-Net income / sales =