4.) You are given the following financial statement data for a British retailer. Statement of Financial Position as at 31 December Non-current assets Tangible assets Intangibles including goodwill Other non-current assets 2016 million 93.9 104.9 96 208.4 2019 E million 69.6 46.5 29.7 145.8 Current assets Inventory Trade & other receivables Cash & cash equivalent Other current assets 91.3 57.7 38.5 14.1 2016 110.6 581 17.6 1946 Current liabilities 1310 149.0 Non-current liabilities 90.6 1526 Net assets 188.4 38.8 441 Equity Share Capital Share Premium Account Retained Earnings Other Equity 443 6.2 -17.6 96.2 43.2 188.4 38.8 Cash Flow Statement, year ended 31 December 2019 million Operating cash flow Investing cash flow Financing cash flow 2016 million 50.1 -237 -12.9 - 15.8 25.8 Change in cash 13.5 16.8 Income Statement, year ended 31 December Sales revenue Cost of sales Gross profit Operating expense Operating profil Pre-tax profit Net income 2016 million 7664 679.4 870 53.8 33.2 32.5 23.6 2019 million 749.4 696.3 53.1 70.9 -21.5 22.0 In your Financial Analysis, use yoar and values for stock variables. a) Compare working capital management and liquidity in 2019 with working capital management and liquidity in 2016. (8 marks) b) Compare solvency in 2019 with solvency in 2016 (3 marks) c) Analyse cash flow in 2019 and 2016. (5 marks) d) Compare profitability and efficiency in 2019 with profitability and efficiency in 2016. (6 marks) e) In which areas does the company need to improve? Explain