Refer the following table. Cash Tia's Trampolines Inc.. Comparative Balance Sheet Information November 30 (millions of $) Accounts receivable (net) 2020 $216 2019 2018 $ 604 $ 629 291 k Plant and equipment (net) Accounts payable 1,457 328 1,640 147 1,936 71 1471 312 Long-term notes payable 976 1,296 1,456 Preferred shares 176 176 176 656 656 656 85 297 112 aces Common shares Retained earnings The preferred shares are $0.50, non-cumulative 80 million preferred and 320 million common shares were issued and outstand during each year. Net sales Tia's Trampolines Inc. Income Statement For Year Ended November 30 (millions of $) Cost of goods sold. Gross profit Operating expenses: Depreciation expense Other expenses Total operating expenses Profit from operations Interest expense Income tax expense Profit 2020 2019 2018 $4,240 $6,560 $6,880 2,824 4,448 4,672 $1,416 $2,112 $2,208 $328 $ 328 $ 328 424 1,280 1,476 752 1,608 1,864 664 $ 504 $ 404 $ 90 179 109 131 $ 395 $ 264 $ 119 96 189 Required: Calculate Tia's Trampolines Inc's profitability ratios for 2020. Also identify whether each of Tia's Trampolines Inc's profitability rat compares favourably or unfavourably to the industry average. (Round the final answer to 2 decimal places. Input all positive ve 2020 Industry Avarana FIU compares favourably or unfavourably to the industry average. (Round the final answer to 2 decimal places. Input Industry Average F/U 2020 1. Profit margin 2. Gross profit ratio 9.32 % 14 % Unfavourable 33.40 % 18 % Favourable 3. Return on total assets 17.42% 20 % Unfavourable 4. Return on common shareholders' equity % 32.7 % Favourable ok 5. Book value per common share $ 6. Book value per preferred share 8.63 $ 15.00 7. Earnings per share $ 1.79 Unfavourable Unfavourable Unfavourable nt ences Analysis Component: Calculate the sales, accounts receivable, cost of goods sold, and accounts payable for the three years 2020, 2019, am 2018 as the base year. (Round the final answer to 2 decimal places. Indicate if variance trend is favorable/unfavore positive values.) Net sales Accounts receivable Cost of goods sold Accounts payable 2020 % 2019 2018 F/U % Unfavourable % Unfavourable % Favourable % Favourable