Joshua & White (J&W) Technologies's financial statements are also shown below. Answer the following questions.

a. Has J&W's liquidity position improved or worsened? Explain.

b. Has J&W's ability to manage its assets improved or worsened? Explain.

c. How has J&W's profitability changed during the last year?

d. Perform an extended DuPont analysis for J&W for 2014 and 2015. What do these results tell you?

e. Perform a common size analysis. What has happened to the composition (that is, percentage in each category) of assets and liabilities?

f. Perform a percentage change analysis. What does this tell you about the change in profitability and asset utilization?

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Joshua & White Technologies: December 31 Balance Sheets (Thousands of Dollars) Assets Cash Short-term investments Accounts receivable 2015 2014 iabilities &Equity 2015 2014 5 21,000 $20,000 Accounts payable 33,600 32,000 3,759 3,240 Accruals 12,600 2,000 52,500 48,000 Notes payable 84,000 56,000 liabilities 161,259 $127,240 Long-term debt67662 58 320 19,929 6480 Total current Inventories 5 66,129 S 50,480 Total current assets Net fixed assets 218,400200,000 ota lablities $133,791 $108,800 Total assets $379,659 $327,240 Common stock183,793 178,440 Retained earnings 62,075 40,000 Total common equity 245,868 $218,440 Total liabilities & equity 379,659 $327240