Today is June 1, 2023.You are a rich investor of various companies in the Philippines and in the USA. You have heard of FAMOUS Manufacturing Corporation, a growing company in the Philippines. You want to invest in its common shares which are available in the Philippine Stock Exchange. But before you invest, you want to confirm if the company is really profitable, with good liquidity, and good operating efficiency. You have in your hand the ANNUAL REPORT of Famous showing the comparative Income Statement and Statement of Financial Position for the years ending December 31, 2022 and December 31. 2021. Task: Compute the various ratios mentioned below and answer the questions. INDICATE your ANSWERS on the ANSWER SHEET ABOVE. Famous Corporation Comparative Income Statements For the Years Ended December 31, 2022 and 2021 (P000) 2022 2021 Net sales (all credit sales) 22,000 15,000 Cost of goods sold (13,000) (9,000) Gross Profit 9,000 6,000 Operating expense) (including depreciation - P400) (7,000) (including depreciation-P29) (5,000) Net operating profit/income 2,000 1,000 Interest income (recurring) 40 80 Earnings before Interest and Taxes (EBIT) 2,040 1,080 Interest expense (260) 230) Net income before income tax 1,780 850 Income tax expense (534) (255) Net income 1.246 595 Additional information: Dividends declared 200 200 Famous Manufacturing Corporation Comparative Statement of Financial Position (Balance Sheet) As of December 31, 2022 and 2021 (P000) 2022 2021 Current assets Cash and cash equivalents 400.0 200.0 Trading securities 500.0 800.0 Accounts receivable 900.0 900.0 Allowance for bad debts (50.0) ( 40.0) Inventories 4,700.0 3,600.0 Prepaid expenses 50.0 70.0 Total current assets 6,500.0 5.530.0 Non-current assets (net) 3,000.0 2,000.0 Total assets 9.500.0 7.530.0