The following financial information is for Priscoll Company.

Priscoll Company

Balance Sheets

December 31

Assets

2020

2019

Cash

$114,800

$106,600

Debt investments (short-term)

90,200

65,600

Accounts receivable

170,560

147,600

Inventory

377,200

270,600

Prepaid expenses

41,000

37,720

Land

213,200

213,200

Building and equipment (net)

426,400

303,400

Total assets

$1,433,360

$1,144,720

Liabilities and Stockholders' Equity

Notes payable (short-term)

$278,800

$196,800

Accounts payable

106,600

85,280

Accrued liabilities

65,600

65,600

Bonds payable, due 2023

410,000

278,800

Common stock, $10 par

328,000

328,000

Retained earnings

244,360

190,240

Total liabilities and stockholders' equity

$1,433,360

$1,144,720

Priscoll Company

Income Statement

For the Years Ended December 31

2020

2019

Sales revenue

$1,446,480

$1,295,600

Cost of goods sold

1,049,600

943,000

Gross profit

396,880

352,600

Operating expenses

311,600

273,880

Net income

$85,280

$78,720

Additional information:

1.

Inventory at the beginning of 2019 was $188,600.2.

Accounts receivable (net) at the beginning of 2019 were $141,040.3.

Total assets at the beginning of 2019 were $1,082,400.4.

No common stock transactions occurred during 2019 or 2020.5.

All sales were on account.

Indicate, by using ratios, the change in liquidity and profitability of Priscoll Company from 2019 to 2020.