(Ratio analysis over time) The following information comes from the accounting records of Hercep Ltd. for the first three years of its existence: 2015 2014 2016 Statement of Financial Position Assets Cash $23,500 $21,700 $26,000 141,600 Accounts receivable 70,800 50,500 100,300 125,900 201,800 Inventory Capital assets (net) 457,900 427, 100 548,000 Other assets 209,000 205,900 262,400 $861,500 $831,100 $1,179,800 Liabilities and equity $95,200 Accounts payable $94,700 $49,500 Long-term debt 185,400 264,600 489,800 Common Shares 483,000 483,000 483,000 98,400 34,000 111,800 Retained earnings $861,500 $831,100 $1,179,800 Statement of Earnings Sales $710,000 $730,000 $980,000 Cost of goods sold (440,200) (500,780) (676,200) Other expenses (169,500) (218,100) (208,700) 100,300 95,100 11,120 (30,090) (3,336) (28,530) Income tax $66,570 $70,210 $7,784 Net income