Statement of financial position As of 31/12/2020 Income statement For the ended 31/12/2020 2020 2019 Sales (75% credit) 90000 60000 Cost of Goods Sold (40000) (24000) Gross Profit 50000 36000 Operating expenses (20000) (12000) EBIT 30000 24000 Interest Expense (1000) (1000) Earnings Before Taxes 29000 23000 Taxes @ 40% (11600) (9200) Net Income 17400 13800 Cash and Equivalents Accounts Receivable Inventory Property, Plant & Equipment(net) Total Assets Total Current Liabilities Long-term Debt Common Stock Treasury shares Retained Earnings Total Liabilities and Owner's Equity 2020 2019 5000 4000 14000 6000 4000 8000 55000 40000 78000 58000 12000 8000 26000 20000 25000 25000 (3000) (3000) 18000 8000 78000 58000 Additional information: Depreciation expense $4000. First question- RAMADAN Co. fo2 2020 and for 2019 if you can. A. Put your conclusion about the profitability, liquidity, and solvency position for RAMADAN CO. B. Put your advice to the managers of this corporation. C. If the company sells from its inventory costs $2000, by $ 2500 on accounts, what are the effects on the following ratios: current ratio, quick ratio, collection period. - also put your computations