Question 4 (Ratio analysis over tlme) The following information comes from the accounting records of Hercep Ltd. for the first three years of its existence Statement of Financial Position Assets Cash 522,800 $19,300 27,500 149,000 114,000 147,000 222,000 420,000 468,000 460,000 235,000 201,000 266,800 85B,700 $893,800 $1,125,300 66,900 58,500 Capital assets (net) Other assets Liabilities and equity Accounts payable Long-term debt Common shares Retained eamings $115,000 $57,500 115,000 80,000 230,000 460,000 512,000 512,00 512,000 38,300 $5B,700 $893,800 $1,125,300 51,700 94,300 Statement of Earnings Sales Cost of goods sold Other expenses $65D,000 $755,000 $975,000 (377,000) (513,400) (682,500) (164,000) (225,00D) (223,000) 69,500 (32,700) (4,980) (20,850) $48,650 109,000 16,600 Income tax Net income 76,300 $11,620 (al) Based on above information, analyze he changes in the company's profitability and liquidity, In addition to the management of accounts receivable and inventory from 2018 to 2020 (Round nswers to 1 decrmal place, eg, 13.5% or 13. Sales Cost of goods sold Gross margin Other expenses Income taxes Net income