Refer the following table. 3 $ Tia's Trampolines Inc. Comparative Balance Sheet Information November 30 (millions of $) 2020 2019 Cash $ 214 602 Accounts receivable (net) 289 326 Plant and equipment (net) 1,455 1,620 Accounts payable 69 145 Long-term notes payable 974 1,294 Preferred shares 174 174 Common shares 654 654 Retained earnings 87 281 2018 $ 627 145 1,916 296 1,454 174 654 110 Print to The preferred shares are $0.50, non-cumulative 80 million preferred and 320 million common shares were issued and outstanding during each year. Tia's Trampolines Inc. Income Statement For Year Ended November 30 (millions of $) 2e20 2019 2018 Net sales $4,200 $6,528 $6,840 Cost of goods sold 2.814 4.438 4.662 3 of 8 3 The preferred shares are $0.50, non-cumulative 80 million preferred and 320 million common shares were issued and outstanding during each year. 15 points Print Tia's Trampolines Inc. Income Statement For Year Ended November 30 (millions of $) 2020 2019 2018 Net sales $4,200 $6,528 $6,840 Cost of goods sold 2,814 4,438 4,662 Gross profit $1,386 $2,082 $2,178 Operating expenses: Depreciation expense $ 324 $ 324 $ 324 Other expenses 420 1,276 1,472 Total operating expenses 744 1,600 1,796 Profit from operations $ 642 $ 482 $ 382 86 Interest expense 105 115 175 Income tax expense 127 92 Profit 381 $250 $ 175 $ Required: Calculate Tia's Trampolines Inc.'s profitability ratios for 2020. Also identify whether each of Tia's Trampolines Inc's profitability ratios compares favourably or unfavourably to the industry average. (Round the final answer to 2 decimal places. Input all positive values Help Save & Exit Submit Saved Assignment 13 - Chapter 17 i 3 Required: Calculate Tia's Trampolines Inc.'s profitability ratios for 2020. Also identify whether each of Tia's Trampolines Inc's profitability ratios compares favourably or unfavourably to the industry average. (Round the final answer to 2 decimal places. Input all positive values.) FIU 2020 Industry Average 14% 15 points % % 18% % 20% del 32.71% Print 1. Profit margin 2. Gross profit ratio 3. Return on total assets 4. Return on common shareholders' equity 5. Book value per common share 6. Book value per preferred share 7. Earnings per share $ 8.63 $ 15.00 $ 1.79 Analysis Component: Calculate the sales, accounts receivable, cost of goods sold, and accounts payable for the three years 2020, 2019, and 2018 using 2018 as the base year. (Round the final answer to 2 decimal places. Indicate if variance trend is favorable/unfavorable. Input all positive values.) 2020 2019 2018 F/U % % % % % % Net sales Accounts receivable Cost of goods sold Accounts payable % % % % % %