Spence Resources Inc.$$s December $31$ incomplete balance sheet information follows along with additional information:

$202320222021$

Accounts payable $ $361,920$ $ $211,700138,900$

Accounts receivable, net $262,020176,816138,260$

Cash $73,02098,934103,540$

Common shares$*465,000465,000465,000$

Long$-$term notes payable due $2026278,000292,000236,000$

Inventory $317,200236,000153,400$

Plant assets, net $787,000724,000652,600$

Prepaid expenses $27,56026,92011,600$

$*46,500$ shares were issued and outstanding for all three years.

December $31,$

$20232022$

Common shares market price $ $40\mathrm{.}00$ $ $38\mathrm{.}00$

Annual cash dividends declared per share $1\mathrm{.}601\mathrm{.}30$

Required:

$1.$ Prepare a three$-$year comparative balance sheet for Spence Resources Inc. $($Enter all amounts as positive values.$)$

$2.$ To evaluate the company$$s profitability, calculate the ratios for each year shown in the following schedule and determine whether the change was favourable or unfavourable. $($Round EPS and the final answers to $2$ decimal places.$)$