Refer the following table. Tia's Trampolines Inc. Comparative Balance Sheet Information November 30 (millions of $) Cash Accounts receivable (net) 2020 $ 210 285 2019 2018 $ 598 $ 623 Plant and equipment (net) 1,451 322 1,580 141 1,876 Accounts payable 65 141 264 Long-term notes payable 970 1,290 1,450 Preferred shares 170 170 170 Common shares 650 650 650 Retained earnings 91 249 106 The preferred shares are $0.50, non-cumulative 80 million preferred and 320 million common shares were issued and during each year. Tia's Trampolines Inc. Income Statement For Year Ended November 30 (millions of $) 3030 3010 3010 Net sales Tia's Trampolines Inc. Income Statement For Year Ended November 30 (millions of $) Cost of goods sold Gross profit Operating expenses: 2020 2019 2018 $4,120 $6,440 $6,760 2,794 4,418 4,642 $1,326 $2,022 $2,118 Depreciation expense $ Other expenses 316 $ 316 $ 316 412 1,268 728 1,464 1,584 1,780 97 119 338 107 84 Profit from operations $ 598 $ 438 $ Total operating expenses Interest expense Income tax expense Profit 78 167 $ 353 $ 222 $ 147 Required: Calculate Tia's Trampolines Inc.'s profitability ratios for 2020. Also identify whether each of Tia's Trampolines Inc's profitab compares favourably or unfavourably to the industry average. (Round the final answer to 2 decimal places. Input all pos Industry 2020 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.) 1. Profit margin 2 Gross profit ratio 3. Return on total assets 4 Retum on common shareholders' equity 5 Book value per common share 6 Book value per preferred share 7. Eamings per share 2020 Industry Average FIU % 14 % % 18 % % 20% % 32.7 % $ 8.63 $ 15.00 $ 1.79 Che 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 FIU Net sales % % % Accounts receivable % % % Cost of goods sold % % Accounts payable % %