Question 4 Ratio Analysis (17 Marks) The following are the comparative financial statements for Osmo Corporation for 2020 and 2019: OSMO CORPORATION Comparative Statement of Incomes For Periods Ending October 31 Sales Revenue (all sales on credit) Cost of Goods Sold Gross Profit Expenses Depreciation Selling and Administrative 2020 2019 3,421,866 3,149,705 1,472,906 1,485,322 1,948,960 1,664,383 185,713 184,549 1,188,564 1,236,476 Interest Expense 20,527 22,049 Total Expenses 1,394,804 Net Income (before taxes) 554,156 1,443,074 221,309 Income Taxes 166,247 66,393 Net Income 387.909 154.916