please answer question 2 of the minicase and use an excel document. thank you

MINICASE Ratio Analysis at S&S Air, Inc. Chris Guthrie was recently hired by S&S Air, Inc., to assist the company with its financial planning and to evaluate the company's performance. Chris graduated from college five years ago with a finance degree. Since then, he has been employed in the finance department of a Fortune 500 company S&S Air was founded 10 years ago by friends Mark Sexton and Todd Story. The company has manufactured and sold light airplanes over this period, and the company's products have received high reviews for safety and reliability. The company has a niche market in that it sells primarily to individuals who own and fly their own airplanes. The company has two models: the Chapter 3 Wong with Financial Statements 95 S&S AIR.INC 3021 income Statement Birdie, which sells for S103,000, and the Eagle, which sells for SI7. Although the company manufactures aircraft, its opera tions are different from commercial aircraft companies, S&S Air builds aircraft to order. By using prefabricated parts the company can complete the manufacture of an airplane in only five weeks. The company also receives a deposit on cach order, as well as another partial payment before the order is complete. In contrast a commercial airplane muy take one and one-half to two years to manufacture once the order is placed Mark and Todd have provided the following financial statements. Chris has gathered the industry ratios for the light airplane manufacturing industry, Sales Cost of goods sold Other expenses Depreciation EBIT Interest Table income Taxes (259 Net income Dividends Add to retained earnings $37,038.492 27.6291530 4596,692 1.659 882 $ 3,052,388 580078 5 2,472,310 518,078 $ 1,854.232 $ 565,000 1.289,232 Assets Current assets Cash Accounts receivable Inventory Totat current assets SES AR INC. 2021 BALANCE SHEET Liabilities and Equity Current liabilities $ 419,970 Accounts payable $ 854,685 674 475 Notes payable 1.951,642 988.129 Total current liabities $ 2.806,327 $ 2,082 574 Long-term det $ 5,100,000 Fixed assets Net plant and equipment $16.305,556 Shareholder equity Common stock Retained earnings Total equity Total abilities and equity $ 410,000 10071,803 510,481,803 $18,388.130 Total assets $18.388.130 Light Airplane Industry Ratios Lower Quartile Median Current ratio 50 1.43 Quick ratio 21 .35 Cash ratio 08 21 Total asset turnover .68 .85 Inventory turnover 4.89 6.15 Receivables turnover 6:27 9.82 Total debt ratio 41 52 Debt-equity ratio 68 1.08 Equity multiplier 1.68 2.08 Times interest earned 5.18 8.06 Cash coverage ratio 5.84 941 405 5.104 Return on assets 5.05% 9.53% 9.93% 15.14% Upper Quartile 1 89 52 39 1.38 10.89 14.11 61 1.56 256 983 10.27 7.15% 13.21% 19.15% QUESTIONS 1. Using the financial statements provided for S&S Air, calculate each of the ratios listed in the table for the light aircraft industry, 2. Mark and Todd agree that a ratio analysis can provide a measure of the company's performance They have chosen Boeing as an aspirant company Would you choose Boeing as an aspirant company? Why or why nox? There are other aircraft manufac- turers SRS Air could use as aspirant companies Discuss whether it is appropriate to use any of the following companiest Bombardier. Embraer, and Cirrus Aircraft Corporation 3. Compare the performance of S&S Air to the industry. For each ratio, comment on why it might be viewed as positive or negative relative to the industry. Suppose you create an inventory ratio calculated as inventory divided by current liabilities. How do you think S&S Air's ratio would compare to the industry average? Profit margin Return on equity