The following information comes from the accounting records of Crane Ltd. for the first three years of its existence: 2022 2023 2024 Statement of Financial Position Assets Cash $28,500 $24,800 $40,500 Accounts receivable 83,000 72,400 171,600 Inventory 133,500 160,500 278,200 Capital assets (net) 516,000 540,000 619,200 Other assets 279,400 250,500 306,500 $1,040,400 $1,048,200 $1,416,000 Liabilities and equity Accounts payable $122,000 $85,500 $145,500 Long-term debt 240,000 292,200 603,500 Common shares 631,500 631,500 631,500 Retained earnings 46,900 39,000 35,500 $1,040,400 $1,048,200 $1,416,000 Statement of Earnings Sales $504,500 $578,500 $803,500 Cost of goods sold (297,655) (410,735) (546,380) Other expenses (87,000) (131,000) (201,000) 119,845 36,765 56,120 Income tax (27,804) (10,621) (14,030) Net income $92,041 $26,144 $42,090 (a1) Based on the above information, analyze the changes in the companys profitability and liquidity, in addition to the management of accounts receivable and inventory from 2022 to 2024. (Round answers to 1 decimal place, e.g. 13.5% or 13.5.) 2022 2023 2024 Sales enter percentages rounded to 1 decimal place % enter percentages rounded to 1 decimal place % enter percentages rounded to 1 decimal place % Cost of goods sold enter percentages rounded to 1 decimal place % enter percentages rounded to 1 decimal place % enter percentages rounded to 1 decimal place % Gross margin enter percentages rounded to 1 decimal place % enter percentages rounded to 1 decimal place % enter percentages rounded to 1 decimal place % Other expenses enter percentages rounded to 1 decimal place % enter percentages rounded to 1 decimal place % enter percentages rounded to 1 decimal place % Income taxes enter percentages rounded to 1 decimal place % enter percentages rounded to 1 decimal place % enter percentages rounded to 1 decimal place % Net income enter percentages rounded to 1 decimal place % enter percentages rounded to 1 decimal place % enter percentages rounded to 1 decimal place % 2022 2023 2024 Current ratio enter ratio rounded to 1 decimal place : 1 enter ratio rounded to 1 decimal place : 1 enter ratio rounded to 1 decimal place : 1 Quick ratio enter ratio rounded to 1 decimal place : 1 enter ratio rounded to 1 decimal place : 1 enter ratio rounded to 1 decimal place : 1 A/R turnover enter a number of times rounded to 1 decimal place times enter a number of times rounded to 1 decimal place times enter a number of times rounded to 1 decimal place times Average collection period enter a number of days rounded to 1 decimal place days enter a number of days rounded to 1 decimal place days enter a number of days rounded to 1 decimal place days Inventory turnover enter a number of times rounded to 1 decimal place times enter a number of times rounded to 1 decimal place times enter a number of times rounded to 1 decimal place times Days to sell inventory enter a number of days rounded to 0 decimal places days enter a number of days rounded to 0 decimal places days enter a number of days rounded to 0 decimal places days