The following are the summarised financial statements of Cordoba Ltd for the past two years. Income statements for the year ended 30 November Year 4 Year 5 000 000 000 000 Revenue 4,940 6,850 Cost of sales Opening inventories 630 930 Purchases 3,320 4870 Closing inventories (930) (3,020 (1,150 (4,550 Gross profit 1,920 2,300 Expenses (1,460) (1,850) Operating profit 460 450 Statements of financial position as at 30 November Year 4 Year 5 ASSETS 000 000 Non-current assets 2,600 3,210 Current assets Inventories 930 1,850 Trade receivables 820 1,230 Bank 20 1,770 3,090 Total assets 4.370 6.300 10 EQUITY AND LIABILITIES Equity 1 ordinary shares Share premium Reserves 1,000 2,810 3,810 560 4.370 1,800 400 3,260 5,460 840 6.300 Current liabilities Total equity and liabilities Required: Calculate and Comment on the performance of the business over the two years using the following ratios and any other information that you consider appropriate: 1. Profitability ratios (three ratios) 2. Liquidity ratios (two ratios) 3. Efficiency ratios (three ratios)