The table below contains information about two major competitors in the beverage industry, Cola Cola & Fental Ltd. COLA COLA FENTAI LTD. 2021 2020 2021 2020 Net sales $200,000 $80,200 Cost of goods sold 97,200 17,800 Operating expenses 57.400 15,900 Interest expense 6,700 105 Income tax expense 3,700 1,900 Cash 22,000 $12,000 2,500 $1,500 Other current assets 81.000 83.000 14,000 8,000 Long-term assets (net) 356,000 199,600 25,000 28,000 Current liabilities 53,000 59,000 1,900 4,000 Long-term liabilities 108,000 113,000 9,000 12,400 Share capital 52,000 33,500 11,000 13,800 Retained earnings 91,000 65,300 13,200 10,500 Part A) Complete a common size analysis for the 2021 statement of income for COLA COLA. Include a gross profit and net income figures in your analysis. (HINT: you must first complete a multi-step income statement including revenues & expenditure items, a gross profit and net income figure in your answer) Part B) Calculate the return on assets (ROA) and the return on shareholder's equity (ROE) for COLA COLA for year 2021. Show your work, including the formula and the numbers you use in your calculations. Round your answer to two decimal points. COLA COLA FENTAI LTD. 2021 2020 2021 2020 Net sales $200,000 $80,200 Cost of goods sold 97,200 17,800 Operating expenses 57,400 15,900 Interest expense 6,700 105 Income tax expense 3,700 1,900 Cash 22,000 $12,000 2,500 $1,500 Other current assets 81,000 83,000 14,000 8,000 Long-term assets (net) 356,000 199,600 25,000 28,000 Current liabilities $3,000 59,000 1,900 4,000 Long-term liabilities 108,000 113,000 9,000 12,400 Share capital 52,000 33,500 11,000 13,800 Retained earnings 91,000 65,300 13,200 10,500 Part A) Complete a common size analysis for the 2021 statement of income for FENTAI Ltd. Include a gross profit and net income figures in your analysis. (HINT: you must first complete a multi-step income statement including revenues & expenditure items, a gross profit and net income figure in your answer) Part B) Calculate the return an assets (ROA) and the return on shareholders equity (ROE) for FENTAI Ltd. for year 2021. Show your work including the formula and the numbers you use in your calculations. Round your answer to two decimal points. The table below contains information about two major competitors in the beverage industry, Cola Cola & Fental Ltd. COLA COLA FENTAI LTD. 2021 2020 2021 2020 Net sales $200,000 $80,200 cost of goods sold 97,200 17,800 Operating expenses 57,400 15,900 Interest expense 6,700 105 Income tax expense 3,700 1,900 Cash 22,000 $12,000 2,500 $1,500 Other current assets 81,000 83,000 14,000 8,000 Long-term assets (net) 356,000 199,600 25,000 28,000 Current liabilities 53,000 59,000 1,900 4,000 Long term liabilities 108,000 113,000 9,000 12400 Share capital 52,000 33,500 11,000 13,800 Retained earnings 91.000 65,300 13,200 10,500 Part C) Comment on the performance of these two companies using the ratios you calculated above. Which company is performing better financially and why do you think that? Make sure your answer has a valid explanation based on your previous calculations. (4 marks) THE III P ? The table below contains information about two major competitors in the beverage industry, Cola Cola & Fental Ltd. COLA COLA FENTAI LTD. 2021 2020 2021 2020 Net sales $200,000 $80,200 Cost of goods sold 97,200 17,800 Operating expenses 57,400 15,900 Interest expense 6,700 105 Income tax expense 3,700 1,900 Cash 22,000 $12,000 2,500 $1,500 Other current assets 81,000 83,000 14,000 8,000 Long-term assets (net) 356,000 199,600 25,000 28,000 Current liabilities 53,000 59,000 1,900 4,000 Long-term liabilities 108,000 113,000 9,000 12,400 Share capital 52,000 33,500 11,000 13,800 Retained earnings 91,000 65,300 13,200 10,500 BONUS QUESTION: Discuss two limitations of ratio analysis. [2 marks)