The following information comes from the accounting records of Oriole Ltd. for the first three years of its existence: 2022 2023 2024 Statement of Financial Position Assets Cash $27,500 $25,300 $42,500 Accounts receivable 82,000 74,900 169,600 Inventory 132,500 159,500 276,700 Capital assets (net) 515,500 541,500 620,700 Other assets 278,900 250,000 307,000 $1,036,400 $1,051,200 $1,416,500 Liabilities and equity Accounts payable $121,000 $87,000 $144,000 Long-term debt 210 500 202.200 305500 Long-term debt 240,500 292,200 605,500 Common shares 629,500 629,500 629,500 Retained earnings 45,400 42,500 37,500 $1,036,400 $1,051,200 $1,416,500 Statement of Earnings Sales $501,500 $577,500 $803,500 Cost of goods sold (295,885) (404,250) (530,310) Other expenses (87,000) (129,500) (199,500) 118,615 43,750 73,690 Income tax (27,519) (12,639) (18,423) Net income $91,096 $31,111 $55,267 Based on the above information, analyze the changes in the company's profitability and liquidity, in addition to the management of accounts receivable and inventory from 2022 to 2024. (Round answers to 1 decimal place, eg 13.5% or 13.5.) Sales Cost of goods sold Gross margin 2022 26.6 % % 2023 56 % 2024 % % % 96 96 % % % Other expenses % % % Incorne taxes Net income % % % Current ratio 2022 Quick ratio A/R turnover :1 :1 2023 :1 :1 times times Average collection period days days Inventory turnover times times Days to sell inventory days days eTextbook and Media 2024