(a) Aviation is among the industries that were adversely impacted by Covid. Below table shows selective financial ratios of Singapore Airlines (SIA), for five semi-annual fiscal periods, including both before and after Covid outbreak (period of March 2020 September 2020, highlighted with bond font). Financial Statements are also provided. Analyse the impact of Covid outbreak on SIA's FIVE categories of financial ratios (i.e. Liquidity, leverage, turnover, profitability and market value). [Hint: Elaborate your finding with information from financial statements and attempt to connect the numbers with business activities.] The presentation of the answer should be well-organized. (Word limit of answer - less than 700 words) (25 marks) Assets Current Assets Cash \& Cash Equiva Accounts Receiv Inventories Other ST Assets Non-Current Assets Total Assets \begin{tabular}{cccccc} Total Shareholders' Equity & 22,335 & 16,278 & 15,645 & 9,733 & 12,198 \\ \cline { 4 - 6 } & & & & & \\ Total Liabilities \& Shareholders' Equity & 44,367 & 37,581 & 36,167 & 33,713 & 31,594 \\ \cline { 2 - 5 } \end{tabular} \begin{tabular}{rrrrr} 15,404 & 9,672 & 8,941 & 4,843 & 3,551 \\ \hline 12,938 & 8,055 & 7,587 & 3,109 & 1,435 \\ 1,189 & 903 & 791 & 699 & 1,391 \\ 191 & 195 & 207 & 239 & 234 \\ 1,086 & 486 & 357 & 682 & 491 \\ 28,963 & 27,909 & 27,227 & 28,870 & 28,044 \\ \hline 44,367 & 37,581 & 36,167 & 33,713 & 31,594 \\ \hline \end{tabular} Liabilities \begin{tabular}{lrrrrr} Current Liabilities & 5,670 & 5,713 & 6,855 & 11,002 & 8,700 \\ \cline { 2 - 5 } Accounts Payable & 2,216 & 2,117 & 2,307 & 3,016 & 3,101 \\ Accrued Taxes & 134 & 95 & 70 & 69 & 78 \\ Interest \& Dividends Payable & & 72 & & 46 & \\ Other Payables \& Accruals & & 338 & & & \\ Short-Term Debt & 1,121 & 1,399 & 1,433 & 3,154 & 1,343 \\ Other ST Liabilities & 2,200 & 2,113 & 3,046 & 4,780 & 4,178 \\ Non-Current Liabilities & 16,362 & 15,590 & 13,668 & 12,978 & 10,696 \\ Long-Term Debt & 13,949 & 12,938 & 9,716 & 8,631 & 7,427 \\ Other LT Liabilities & 2,414 & 2,652 & 3,952 & 4,348 & 3,269 \\ Total Liabilities & 22,032 & 21,303 & 20,523 & 23,980 & 19,396 \\ \hline \hline \end{tabular} \begin{tabular}{lrrrrr} Period Start & 03/21 & 09/20 & 03/20 & 09/19 & 03/19 \\ Period End & 09/21 & 03/21 & 09/20 & 03/20 & 09/19 \\ \hline Cashflow Statement (In Millions of SGD) & & & & & \\ & & & & & \\ Cash Flow from Operations & 327 & 606 & 2,687 & 1,033 & 1,699 \\ Cash Flow from Investing & 732 & 369 & 945 & 2,278 & 2,687 \\ Cash Flow from Financing & 5,093 & 1,687 & 8,050 & 2,600 & 664 \end{tabular} PeriodStartPeriodEnd03/2109/2109/2003/2103/2009/2009/1903/2003/1909/19 (a) Aviation is among the industries that were adversely impacted by Covid. Below table shows selective financial ratios of Singapore Airlines (SIA), for five semi-annual fiscal periods, including both before and after Covid outbreak (period of March 2020 September 2020, highlighted with bond font). Financial Statements are also provided. Analyse the impact of Covid outbreak on SIA's FIVE categories of financial ratios (i.e. Liquidity, leverage, turnover, profitability and market value). [Hint: Elaborate your finding with information from financial statements and attempt to connect the numbers with business activities.] The presentation of the answer should be well-organized. (Word limit of answer - less than 700 words) (25 marks) Assets Current Assets Cash \& Cash Equiva Accounts Receiv Inventories Other ST Assets Non-Current Assets Total Assets \begin{tabular}{cccccc} Total Shareholders' Equity & 22,335 & 16,278 & 15,645 & 9,733 & 12,198 \\ \cline { 4 - 6 } & & & & & \\ Total Liabilities \& Shareholders' Equity & 44,367 & 37,581 & 36,167 & 33,713 & 31,594 \\ \cline { 2 - 5 } \end{tabular} \begin{tabular}{rrrrr} 15,404 & 9,672 & 8,941 & 4,843 & 3,551 \\ \hline 12,938 & 8,055 & 7,587 & 3,109 & 1,435 \\ 1,189 & 903 & 791 & 699 & 1,391 \\ 191 & 195 & 207 & 239 & 234 \\ 1,086 & 486 & 357 & 682 & 491 \\ 28,963 & 27,909 & 27,227 & 28,870 & 28,044 \\ \hline 44,367 & 37,581 & 36,167 & 33,713 & 31,594 \\ \hline \end{tabular} Liabilities \begin{tabular}{lrrrrr} Current Liabilities & 5,670 & 5,713 & 6,855 & 11,002 & 8,700 \\ \cline { 2 - 5 } Accounts Payable & 2,216 & 2,117 & 2,307 & 3,016 & 3,101 \\ Accrued Taxes & 134 & 95 & 70 & 69 & 78 \\ Interest \& Dividends Payable & & 72 & & 46 & \\ Other Payables \& Accruals & & 338 & & & \\ Short-Term Debt & 1,121 & 1,399 & 1,433 & 3,154 & 1,343 \\ Other ST Liabilities & 2,200 & 2,113 & 3,046 & 4,780 & 4,178 \\ Non-Current Liabilities & 16,362 & 15,590 & 13,668 & 12,978 & 10,696 \\ Long-Term Debt & 13,949 & 12,938 & 9,716 & 8,631 & 7,427 \\ Other LT Liabilities & 2,414 & 2,652 & 3,952 & 4,348 & 3,269 \\ Total Liabilities & 22,032 & 21,303 & 20,523 & 23,980 & 19,396 \\ \hline \hline \end{tabular} \begin{tabular}{lrrrrr} Period Start & 03/21 & 09/20 & 03/20 & 09/19 & 03/19 \\ Period End & 09/21 & 03/21 & 09/20 & 03/20 & 09/19 \\ \hline Cashflow Statement (In Millions of SGD) & & & & & \\ & & & & & \\ Cash Flow from Operations & 327 & 606 & 2,687 & 1,033 & 1,699 \\ Cash Flow from Investing & 732 & 369 & 945 & 2,278 & 2,687 \\ Cash Flow from Financing & 5,093 & 1,687 & 8,050 & 2,600 & 664 \end{tabular} PeriodStartPeriodEnd03/2109/2109/2003/2103/2009/2009/1903/2003/1909/19