Comparative data extracted from the general purpose financial statements and notes thereto of Express Delivery Ltd are presented below.

Required

(a) Prepare a trend analysis of the data.

(b) Comment on any trends revealed by the analysis that you consider should be reported to managers.

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EXPRESS DELIVERY LTD Comparative statements of financial performance (extracts) for the years ended 31 December Revenue Less: Cost of sales Gross profit Expenses Profit ($000) 2020 2021 2022 2023 2024 2025 S $ $ $ $ $ 300 315 315 325 390 415 185 190 185 192 215 250 115 125 130 133 175 165 82 86 83 101 113 115 $ 33 $ 39 $ 47 $ 32 $ 62 $ 50 EXPRESS DELIVERY LTD Comparative statements of financial position (extracts) as at 31 December ($000) 2020 2021 2022 2023 2024 2025 Assets Cash $ 18 19 $18 $26 $ 25 $ 14 Receivables 25 30 28 43 52 74 Inventories 74 84 89 118 150 160 Property, plant and equipment 180 194 208 348 343 340 S $ S S S $ 297 327 343 535 570 588 Liabilities Payables 64 78 84 115 140 151 Non-current liabilities 72 69 66 150 145 143 Equity Share capital 120 120 120 180 180 180 Retained earnings 41 60 73 90 105 114 $ $ $ $ $ $ 297 327 343 535 570 588