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 4,940 6,850 Revenue 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 Trade receivables Bank 930 1,850 820 1,230 20 10 1,770 3,090 4.370 6.300 Total assets EQUITY AND LIABILITIES Equity 1 ordinary shares 1,000 1,800 Share premium 400 Reserves 2,810 3,260 3,810 5,460 Current liabilities 560 840 Total equity and liabilities 4.370 6.300 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)