its a one question

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1. Friendly Bookstore has experienced rapid growth since its formation in 2017. Following is selected data from its annual report 2019 2017 Item Sales 2020 $1,260,000 2018 $840,000 $600,000 $970,000 $971,000 $598,000 $515,000 $360,000 Cost of Goods Sold Net Income $53,000 $46,000 $39,000 $30,000 Total Assets $1,100,000) 85,703 $897,000 $768,000 $545,000 73,192 63,200 45,187 Number of Books Sold Required: a Perform a horizontal common-size analysis of the data given [6 marks] Item 2020 2019 2018 2017 Sales Cost of Goods Sold Net Income Total Assets Number of Books Sold Number of Books Sold b Comment on the results. [3 marks, 1 mark each] 1 Sales/COGS 2 Assets/ Sales 3. Number of books sold/Sales 2. Discuss the economic characteristics of firms that have the following mix of profit margin and asset turnover in addition, provide an example of an industry that would have the relevant profit margin asset turnover mo High profit margin and low asset turnover. (2 marks] b. Low profit margin and high asset turnover [2 marks]