Use the financial statements below for problems 4 to 7 Balance Sheet Assets 2019 2020 Cash $14,000 $9,282 Short-term investments. 48,600 18,000 Accounts receivable 351,200 632,160 Inventories 710,200 1,287,360 Total current assets $1,124,000 $1,946,802 Gross fixed assets 491,000 1,202,950 Less: accumulated depreciation 146,200 263,160 Net fixed assets $344,800 $939,790 Total assets $1,468,800 $2,886,592 Liabilities and equity 2019 2020 Accounts payable $145,600 $324,000 Notes payable 200,000 720,000 Accruals 136,000 284,960 Total current liabilities $481,600 $1,328,960 Long-term debt 323,432 1,000,000 Common stock (100,000 shares) 460,000 460,000 Retained earnings 203,768 97,632 Total equity $663,768 $557,632 Total liabilities and equity $1,468,800 $2,886,592 Income Statement 2019 2020 Sales $5,432,000 $6,834,400 Cost of goods sold 2,864,000 4,200,000 Other expenses 340,000 720,000 Depreciation 18,900 116,960 Total operating costs $3,222,900 $5,036,960 EBIT $2,209,100 $1,797,440 Interest expense 62,500 176,000 Pretax earnings $2,146,600 $1,621,440 Taxes (40%) 858,640 648,576 Net income $1,287,960 $972,864 4. Construct a common size income statement 2019 and 2020. Comment on any of the changes in the composition of the income statement. 5. Construct a common size balance sheets for 2019 and 2020. Comment on any changes in the percentages of assets and liabilities