Perform both a Vertical and Horizontal Trend analysis on the following Income Statement. 

	2021	2022
Sales	$ 1,500,000	$ 1,325,000
Cost of Goods Sold	$ 950,000	$ 925,000
Gross Profit	$ 550,000	$ 400,000
Marketing Expense	$ 17,000	$ 23,000
Insurance Expense	$ 25,000	$ 33,000
Depreciation expense	$ 75,000	$ 75,000
Total Operating Expenses	$ 117,000	$ 131,000
Income from operations (EBIT)	$ 433,000	$ 269,000
Interest expense	$ 175,000	$ 125,000
Income before taxes (EBT)	$ 258,000	$ 144,000
Income taxes	$ 103,200	$ 57,600
Net Income	$ 154,800	$ 86,400

(ii) Calculate the following Ratios and comment on whether the ratio has gotten better or worse in 2022 vs 2021.

Current Ratio

Quick Ratio

Debt to Assets

Times Int Earned

Avg Collection

Inventory Turn

Profit Margin

Return on Assets

Return on Equity

	2022	2021
Current Assets	37,618	93,457
Current Liabilities	31,987	35,563
Inventory	4,673	17,899
Total Debt	44,274	42,979
Total Assets	285,198	41,988
EBIT	49,662	10,282
Interest Expenses	14,235	580
Accounts Receivable	14,214	15,533
Sales	288,137	280,515
COGS	11,925	11,676
Profit	40,620	45,335
Total Equity	57,098	90,010