Using spreadsheet software and the financial statements below, prepare a vertical and horizontal analysis for Georgia First, Incorporated. In addition calculate the following ratios for 2007 and 2008: . Liquidity o Current Ratio o Quick Ratio o Working Capital . Profitability O Gross Profit Margin o Operating Profit Margin Net Profit Margin Financial Leverage o Total Debt to Assets o Long-Term Debt to Assets o Total Debt to Equity Once you have completed all of your ratios, write a short summary of what you can tell about this company by this analysis. Be sure to address the company's liquidity, profitability, and financial leverage. Try to use information from your vertical and horizontal analysis to back up your points. Georgia First, Incorporated CONSOLIDATED BALANCE SHEETS December 31, 2008 2008 2007 ASSETS: Current assets: Cash and cash equivalents $ 11,875 $ 9,352 Short-term investments 12,615 6,034 Accounts receivable, less allowances for doubtful accounts 2,422 , 637 Inventories 509 346 Deferred tax assets 1,447 782 Other current assets 5,822 3,805 Total current assets 34,690 21,956 Property, plant, and equipment, net 2,455 1,832 Goodwill 207 38 Acquired intangible assets, net 285 299 Other assets 1,935 1,222 Total assets 39,572 $ 25,347 LIABILITIES AND SHAREHOLDERS' EQUITY: Current liabilities: Accounts payable $ 5,520 $ 4,970 Accrued expenses 8,572 4,310