Condensed statement of financial position and comprehensive income statement data for Clack Ltd. follow:

                            

                            

Additional information:
1. The allowance for doubtful accounts was $4,000 in 2014 and $5,000 in 2015.
2. Accounts receivable at the beginning of 2014 were $88,000, net of an allowance for doubtful accounts of $3,000.
3. Merchandise inventory at the beginning of 2014 was $115,000.
4. Total assets at the beginning of 2014 were $630,000.
5. Total current liabilities at the beginning of 2014 were $180,000.
6. Total liabilities at the beginning of 2014 were $371,000.
7. Shareholders’ equity at the beginning of 2014 was $259,000.
8. Seventy-five percent of the sales were on account.
9. Net cash provided by operating activities was $85,000 in 2014 and $96,000 in 2015.
10. Net capital expenditures were $50,000 in 2014 and $125,000 in 2015.
11. In each of 2014 and 2015, $8,000 of dividends were paid to the common shareholders.

Instructions
(a) Calculate all possible liquidity, solvency, and predictability ratios for each of 2014 and 2015.
(b) Identify whether the change in each ratio calculated in part (a) was favourable, unfavourable, or unchanged between 2014 and 2015.
(c) Explain whether overall (1) liquidity, (2) solvency, and (3) profitability improved, deteriorated, or remained the same between 2014 and 2015.