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Problem 2 ABC Corporation Comparative Statements of Financial Position December 31, 2019 (in Thousand pesos) 2019 2018 Assets Current Assets Cash & Cash Equivalent 49,780 4,240 Held for Trading 20,000 10,000 Trade & Other Receivables 32,000 12,000 Inventory 17,920 21,200 Total Current Assets 119,700 47,440 Non-current Assets Property, Plant & Equipment 300,000 322,560 Investment in Equity Securities 32,000 40,000 Total Non-current Asset 332,000 362,560 TOTAL ASSETS 451,700 410,000 Liabilities and Shareholders' Equity Current Liabilities Trade & Other Payables 16,800 6,700 Unearned Revenues 21,200 23,300 Notes Payable - current 1,800 1,200 Total Current Liabilities 39,800 31,200 Non-current Liabilities Notes-Payable - non-current 147,100 200,000 Total Liabilities 186,900 231,200 Shareholders' Equity Ordinary Shares, P 100 par 160,000 120,000 Premium on Ordinary Shares 32,000 20,000 Total paid-in-capital 192,000 140,000 Retained Earnings 72,800 38,800 Total Shareholders' Equity 264,800 178,800 TOTAL LIABILITIES & SHAREHOLDERS' EQUITY 451,700 410,000ABC Corporation Comparative Income Statements For the Year Ended December 31, 2019 & 2018 (in Thousand pesos) 2019 2018 Sales 960,000 800,000 Less: Cost of Goods Sold 728,000 600,000 Gross Income 232,000 200,000 Add: Other Income 30,000 20,000 Total Income 262,000 220,000 Less: Other Expenses 24,800 2,000 Finance Costs (Interest) 28,800 19,000 Total Expenses 53,600 21,000 Net Income before taxes 208,400 199,000 Less: Income Tax 66,688 63,680 Net Income after Taxes 141,712 135,320 Requirements: Compute the ratios that measure liquidity, asset utilization, debt utilization and profitability. b ) Analyze, interpret, and draw conclusions based on the results of your computations