Access and solve problem P3-24 from the textbook, Principles of Managerial Finance. Describe Zach Industries' overall financial condition? Research and describe a company currently in the news in similar financial condition, and compose a comparative analysis on what can be/should be done to improve the circumstances of both the fictional and real-world company. Support your answers with financial ratios and provide explanations.

P3-24 Financial statement analysis The financial statements of Zach Industries for the year ended December 31, 2015, follow. Zach Industries Income Statement for the Y Ended December 31, 2015 $160,000 Less: Cost of goods sold 54,000 Lessa operating expenses Selling expense 16,000 General and administrative expenses 10,000 1,000 10,000 Total operating expense 37,000 Operating profits S 17.000 Less: Interest expense 6,100 Net profits before taxes 10,900 4,360 Net profits after taxes S 6,540 Zach Industries Balance Sheet December 31, 2015 Asset Cash Marketable securities 1,000 Accounts receivable Total 72,000 Current assets Land 26,000 Buildings and equipment Less: Accumulated depreciation 38,000 Net fixed assets 78,000 Total assets $150,000 Liabilities and Stockholders' Equity Accounts payable 22,000 Notes payable 47,000 Total current bilities 69,000 Long-term debt 22,950 31,500 Retained earnings 6,550 Total liabilities and stockholders' equity 50,000 he firm's 3000 outstanding shares of com 2015 at a price of S25 per share. a. Use the proceding financial statements to complete the following table. Assume that the industry averages given in the table are applicable for both 2014 and 2015. industry average Actual 2014 Actual 2015 Ratio Current ratio 1.80 1.84 Quick ratio Inventory turnover 2.50 2.59 Average collection period' 37.5 days 365 days Times interest eamed ratio 3.8 Gross profit margin Net profit margin Return on total assets 4.0% 9.5% Return on common equity Market/book 1.1 1.2 "lased on a 365-day year and on end-of year figures. b. Analyze zach Industries' financial condition as it is related to (1)liquidity, (2) activity, (3) debt, (4) profitability, and (S) market. Summarize the company's overall financial condition