(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		$22,800		$19,300		$27,500
Accounts receivable		66,900		58,500		149,000
Inventory		114,000		147,000		222,000
Capital assets (net)		420,000		468,000		460,000
Other assets		235,000		201,000		266,800
		$858,700		$893,800		$1,125,300
Liabilities and equity
Accounts payable		$115,000		$57,500		$115,000
Long-term debt		180,000		230,000		460,000
Common shares		512,000		512,000		512,000
Retained earnings		51,700		94,300		38,300
		$858,700		$893,800		$1,125,300
Statement of Earnings
Sales		$650,000		$755,000		$975,000
Cost of goods sold		(377,000)		(513,400)		(682,500)
Other expenses		(164,000)		(225,000)		(223,000)
		109,000		16,600		69,500
Income tax		(32,700)		(4,980)		(20,850)
Net income		$76,300		$11,620		$48,650

Based on above information, analyze the changes in the companys profitability and liquidity, in addition to the management of accounts receivable and inventory from 2018 to 2020. (Round answers to 1 decimal place, e.g. 13.5% or 13.5.)

		2018		2019		2020
Sales		%		%		%
Cost of goods sold		%		%		%
Gross margin		%		%		%
Other expenses		%		%		%
Income taxes		%		%		%
Net income		%		%		%

		2018			2019			2020
Current Ratio			: 1			: 1			: 1
Quick Ratio			: 1			: 1			: 1
A/R Turnover			times			times			times
Average Collection Period			days			days			days
Inventory Turnover			times			times			times
Days to Sell Inventory			days			days			days

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Based on the above information, analyze the companys use of leverage from 2018 to 2020. (Round answers to 1 decimal place, e.g. 15.1%.)

		2018		2019		2020
Debt to Equity		%		%		%
Return on Assets		%		%		%
Return on Equity		%		%		%

Question 1 of 2 - 120 E WCLVIS www ve Based on aber information analyze the changes in the company's prability and liquidity, in addition to the Management of accounts molas and inventary from 2013 to 2020 (Round answers to 1 decimal place, c.g. 23.5% or 13.5.) 2018 2019 Sales $ Cost od goods sold Gross margin % Other expenses 3 In: CHIC Nerince 2018 2019 nt Ratio :1 1 :1 Ratin :1 1 :1 a colkan Period days das tory Tumawa times times to sell inwentary days dans lesbock and Melis Based on the above information analyze the compary's Use che race From 2010 to 2020. (Round answers to 1 decimal place. y 15.1%) 2018 2019 Debt te Equity Heturnen Avis Rchuirnong ty $ e Textbook and Media 57 Attempts: 0 of used Sum