terms.

All values should be accurate to at least two decimal places

Use Holden Corp.'s financial statements to compute the required ratios below, and indicate whether the change from year to year is favorable or unfavorable. For your analysis, assume that all other things have remained constant. Apply your analysis in very general terms. All values should be accurate to at least two decimal places. o en orp. Income Statement For Years Ended December 31 , 2019, 2018, and 2017 Sales Cost of goods sold Gross margin Operating expenses Income from operations Interest expense Net income $1 $1 ,255 700 Sl 639,000 688, 100 392, 700 295,400 8,050 $287,350 Balance Sheet 571,400 684,300 333,900 350,400 7,500 $342,900 December 31, 2019, 2018; and 2017 Cash Shon-term investments Accounts receivable Merchandise inventory Prepaid expenses Notes receivable, due in 2022 Plant assets, net Total assets Accounts payable Salaries payable Property taxes payable Long-term note payable Common stock, 150000 shares Retained earnings Total liabilities and stockholders' equity Profit margin (%) Return on total assets (%) Return on equity (%) 2019 $59,500 52,000 47,100 14,200 11400 10,000 416,000 $610,200 $32,500 8,900 30,300 217,000 190,000 131,500 $610,200 2018 $65,500 59,000 50,100 17,200 11 goo 9,000 410,000 $36,000 8,200 31 ,200 198,000 240,000 108,400 $621,800 699, 100 420,600 298,300 122,300 7,000 S115,300 2017 $70,500 64,000 56,300 18,000 9,800 10,500 359,000 $588,100 $38,900 9,800 28,800 244,000 210,000 56,600 $588,100 (select one) (select one) (select one)