(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 $22.900 66,700 103,000 420,000 230,000 $842600 $20,400 60,000 149.000 465,000 201,000 $895,400 $26.500 147,500 221.000 468.000 265,700 $1,128,700 Liabilities and equity Accounts payable Long-term debt Common shares Retained earnings $104,000 184,000 518,000 36,600 $842,600 $52,000 234,000 518.000 91.400 $895,400 $104,000 468,000 518,000 38,700 $1.128,700 Statement of Earnings Sales $635.000 $835.000 $910,000 B Z M Alt Car Cash Accounts receivable Inventory Capital assets (net) Other assets $22,900 66,700 103.000 420,000 230,000 $842,600 $20,400 60,000 149,000 465,000 201,000 $895,400 $26,500 147,500 221,000 468,000 265,700 $1,128,700 Liabilities and equity Accounts payable Long-term debt Common shares Retained earnings $104,000 184,000 518,000 36,600 $842,600 $52,000 234,000 518,000 91,400 $895,400 $104,000 468,000 518,000 38,700 $1,128,700 Statement of Earnings Sales Cost of goods sold Other expenses $635,000 (406,400) (169,000) 59,600 (17,880) $41,720 $835,000 (559,450) (232,000) 43,550 (13,065) $30.485 $910,000 (637,000) (230,000) 43,000 (12.900) $30,100 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, es. 13.5% or 13.5.) 2018 2019 Sales % 96 96 Cost of goods sold % % % % %6 96 Gross margin Other expenses % %6 Income taxes % % Net Income X 2018 2019 Current Ratio Quick Ratio 8 2 P H J K C V B N M Ah Car Net Income 2011 LUX Current Ratio :1 Quick Ratio AR Turnover times times Average Collection Period days days Inventory Turnover times times Days to Sell Inventory days days Textbook and Media Based on the above linormation, anythe company storage from 2015 to 2020 round armwers to 1 decimal 3151 20 Debt uity Return Textbook Media