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

	2017	2016	2015
Accounts payable	$362,620	$212,400	139,600
Accounts receivable, net	262,370	177,166	138,610
Cash	73,370	99,284	103,890
Common shares*	472,000	472,000	472,000
Long-term notes payable due 2020	281,500	295,500	239,500
Inventory	320,700	239,500	156,900
Plant assets, net	794,000	731,000	659,600
Prepaid expenses	27,840	27,200	11,880

*47,200 shares were issued and outstanding for all three years.

	December 31,
	2017	2016
Common shares market price	$46.00	$45.00
Annual cash dividends declared per share	2.30	2.00

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

SPENCE RESOURCES INC.
Balance Sheet
December 31
	2017	2016	2015
Assets
Current assets
Total current assets	0	0	0
Total assets	$0	$0	$0
Liabilities
Total liabilities	$0	$0	$0
Equity
Total equity	0	0	0
Total liabilities and equity	$0	$0	$0

2. To evaluate the companys 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.)

		2017		2016		Favourable or Unfavourable
a.	Return on common shareholders equity		%		%
b.	Price-earnings
c.	Dividend yield		%		%