Working Capital Efficiency
The data from Quater 1 in 2020 to Quater 3 in 2020 includes 3 quarters.

Liabilities on Revenue
Year 2020 Quarter 1: Liabilities on Revenue 198.17 (%).Trend:Increase 609.52% than previous quarter
Year 2020 Quarter 2: Liabilities on Revenue 148.98 (%).Trend:Decrease 24.82% than previous quarter
Year 2020 Quarter 3: Liabilities on Revenue 89.91 (%).Trend:Decrease 39.65% than previous quarter

Overall: decreasing (-54.63%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2020 Quarter 1: Current assets on Revenue 143.79 (%).Trend:Increase 1922.36% than previous quarter
Year 2020 Quarter 2: Current assets on Revenue 139.09 (%).Trend:Decrease 3.27% than previous quarter
Year 2020 Quarter 3: Current assets on Revenue 28.9 (%).Trend:Decrease 79.22% than previous quarter

Overall: decreasing (-79.9%). Fluctuation: **Significant** (high variation).


Cost Efficiency
The data from Quater 1 in 2020 to Quater 3 in 2020 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2020 Quarter 1: Ratio of Retained Earnings to Revenue 244.0 (%).Trend:Increase 494.69% than previous quarter
Year 2020 Quarter 2: Ratio of Retained Earnings to Revenue 157.29 (%).Trend:Decrease 35.54% than previous quarter
Year 2020 Quarter 3: Ratio of Retained Earnings to Revenue 88.61 (%).Trend:Decrease 43.66% than previous quarter

Overall: decreasing (-63.68%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio

Invest Efficiency
The data from Quater 1 in 2020 to Quater 3 in 2020 includes 3 quarters.

Retained Earning on Assets
Year 2020 Quarter 1: Retained Earning on Assets 15.21 (%).Trend:Decrease 15.45% than previous quarter
Year 2020 Quarter 2: Retained Earning on Assets 12.65 (%).Trend:Decrease 16.83% than previous quarter
Year 2020 Quarter 3: Retained Earning on Assets 11.88 (%).Trend:Decrease 6.09% than previous quarter

Overall: decreasing (-21.89%). Fluctuation: **Neutral** (moderate variation).

Earning Per Share
Year 2020 Quarter 1: Earning Per Share -1.37 (USD).Trend:Decrease 162.56% than previous quarter
Year 2020 Quarter 2: Earning Per Share -2.59 (USD).Trend:Increase 89.05% than previous quarter
Year 2020 Quarter 3: Earning Per Share -3.56 (USD).Trend:Increase 37.45% than previous quarter

Overall: decreasing (159.85%). Fluctuation: **Significant** (high variation).



Financial statements for Q1 to Q3 2020 exhibit significant instability in working capital and cost efficiency. Liabilities on revenue and current assets both decreased significantly with high quarter-to-quarter variability.  Cost efficiency (ratio of retained earnings to revenue) also decreased substantially. Investment efficiency saw a small decrease (-21.89%). Earnings per share dropped significantly (159.85%), highlighting inconsistent financial performance. This instability suggests the need for a deeper analysis of underlying factors influencing the business.