(Ratio analysis over time) The following information comes from the accounting records of Hercep Ltd. for the first three years of its existence: 2018 2019 2020 Statement of Financial Position Assets Cash Accounts receivable Inventory Capital assets (net) Other assets $22,800 67,200 100,000 428,000 232,000 $850,000 $20,600 56,000 136,000 465,000 215,000 $892,600 $27.700 144,000 238,000 516,000 268,600 $1,194,300 Liabilities and equity Accounts payable Long-term debt Common shares Retained earnings $116,000 208.000 518,000 8,000 $850,000 $58,000 258,000 518,000 58,600 $892,600 $116,000 516,000 518,000 44,300 $1,194,300 Statement of Earnings Sales Cost of goods sold Other expenses $665,000 (392,350) (160.000) 112,650 (33,795) $78,855 $790,000 (521,400) [239.000) 29,600 (8.880) $20,720 $960,000 (691.200) (237,000) 31,800 (9.540) $22.260 Income tax Net income Based on above information, analyze the changes in the company's profitability and liquidity, in addition to the management of accounts receivable and inventory from 2018 to 2020. (Round answers to 1 decimal place, eg. 13.5% or 13.5.) 2018 2019 2020 Sales % % 96 %6 %6 96 Cost of goods sold Gross margin Other expenses % %6 96 %6 % 96 Income taxes se 56 96 Net income % 96 %6