Spence Resources Inc.'s December 31 incomplete balance sheet information follows along with additional information 2016 $362,220 $212,000 139,200 262,170 176,966 138,410 73,170 99,084 103,690 468,000 468,000 468,000 279,500 293,500 237,500 318,700 237,500 154,900 790,000 727,000 655,600 27,680 27,040 ,720 2017 2015 Accounts payable Accounts receivable, net Cash Common shares Long-term notes payable due 2020 Inventory Plant assets, net Prepaid expenses 46,800 shares were issued and outstanding for all three years December 31 2017 2016 Common shares market price Annual cash dividends declared per share $43.00 $41.00 1.60 1.90 Answer is not complete SPENCE RESOURCES INC Balance Sheet December 31 2017 2016 2015 Assets Current assets Accounts receivable Cash Inventory Prepaid expenses $ 262,170$ 176,966 $ 138,410 73,17099,084103,690 318,70023700154,900 27,682011,720 Total current assets 681,720 540,590 408,720 Plant assets net 790,000. 727,000 655,600 Total assets $1,471,720 $1,267,590 $1,064,320 Llabllilties s 139,200 237,500 Accounts payable ong-term notes payable due279,500293,500 2020 $ 279,500 293,500 Equity Total liabilities 376,700 Common shares 468,000468,000468,000 Total equity Total liabilities and equity 468,000 468,000 468,000 $ 747,500 S 761,500 844,700 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 Answer is not complete Favourable or Unfavourable 2017 2016 Return on common shareholders % Unfavourable b. Price-earnings c. Dividend yield Unfavourable 4.42 1 % 3.900% |Favourable