Air Transport Services Group, Inc. (ATSG) is a holding company. The provides airline operations, aircraft leases, aircraft maintenance and services primarily to the rugo transportation and package delivery offers aircraft, crew, mainance and insurance (ACMI) for specifi operations. You are working for a wealth management company a asked to discuss the following aspects for ATSG: spect 1: Profitability spect 2: Short term solvency spect 3: Current Asset liquidity pect 4: Long term so' ency below the Balance sheet and the income statement Air Transport Services Group, Inc. (ATSG) is a holding company. The Company provides airline operations, aircraft leases, aircraft maintenance and other suppo services primarily to the cargo transportation and package delivery industries. It offers aircraft, crew, maintenance and insurance (ACMI) for specified cargo operations. You are working for alth management company and you have asked to discuss the following aspects for ATSG: Aspect 1: Profitability Aspect 2: Short term solvency Aspect 3: Current Asset liquidity Aspect 4: Long term solvency nd below the Balance sheet and the income statement of ATSG. TSG Balance Sheet anual Quarterly 2019 31/12 2018 31/12 2017 31/12 Period Ending 19 Period En 2019 31/12 2018 31/12 2017 31/12 266.79 259.22 59.32 46.2 1845 32.7 46.2 59.32 32.7 147.75 162.87 162.87 147.75 33.54 109.11 109.11 22.17 37.4 20.32 18.61 Total Current Assets Cash and Short Term Investments Cash Cash & Equivalents Short Term Investments Total Receivables, Net Accounts Receivables - Trade, Net Total Inventory Prepaid Expenses Other Current Assets, Total Total Assets Property/PlantEquipment. Total - Net Property/Plant/Equipment, Total - Gross Accumulated Depreciation, Total Goodwill. Net Intangibles, Net Long Term Investments 20.52 2820.18 2470.59 1548.84 1159.96 1555.01 2501.49 2003.99 1810.32 2956.52 - 1146.2 395.97 131.68 -844.03 -946.48 390.75 37.28 144.61 7.3 - 1146.2 395.97 131.68 -946 48 390.75 144 61 -844 03 37 28 73 Accumulated Depreciation. Total Goodwill, Net Intangibles. Net Long Term Investments Note Receivable - Long Term Other Long Term Assets, Total Other Assets, Total 80.68 63.78 121 215.41 79.12 263.24 141.09 229.13 109.84 184.67 99.73 89.87 70.56 50.58 18.51 14.71 17.57 2359.84 15.85 Total Current Liabilities Accounts Payable Payable/Accrued Accrued Expenses Notes Payable/Short Term Debt Current Port of LT Debt Capital Leases Other Current liabilities. Total Total Liabilities Total Long Term Debt Long Term Debt Capital Lease Obligations Deferred Income Tax Minority Interest Other Liabilities. Total Total Equity 29.65 19.08 2034.15 1371.6 1371.6 1469.68 1469.68 1153.57 551.61 551.61 127.48 113.24 99.44 499.44 320.17 317.84 460.34 436.44 395.28 460 34 436.44 395 28 0.59 0.59 475.72 45.9 0.59 471.16 56.05 471.46 -13.75 6 Total Equity Redeemable Preferred Stock, Total Preferred Stock - Non Redeemable, Net Common Stock Total Additional Pald-in Capital Retained Earnings (Accumulated Deficit) Treasury Stock - Common ESOP Debt Guarantee Unrealized Gain (Loss) Other Equity. Total Total Liabilities & Shareholders' Equity -91.36 -61.87 2820.18 -63.02 1548.84 2470.59 Period Ending 2019 31/12 2018 31/12 2017 31/12 1452.18 892.35 892.35 10682 1068.2 1452.18 Total Revenue Revenue Other Revenue, Total Cost of Revenue, Total Gross Profit 599.74 345.77 447.96 852.45 546.57 620.24 1275.19 781.33 Total Operating Expenses Selling/General/Admin. Expenses, Total Research & Development 968.8 187.41 284.87 206.41 852.45 1275 19 284.87 546.57 781 33 620.24 958.8 3 206.41 187.41 257.53 178.9 154.56 133.05 50 25 178.87 177 111.02 Gross Pront Total Operating Expenses Selling General/Admin Expenses. Total Research & Development Depreciation / Amortization Interest Expense (Income) - Net Operating Unusual Expense (Income) Other Operating Expenses, Total Operating income Interest Income (Expense), Net Non-Operating Gain (Loss) on Sale of Assets Other Net Net Income Before Taxes Provision for Income Taxes Net Income After Taxes Minority Interest Equity In Affiliates U.S GAAP Adjustment 99.4 -99.83 -96.02 -31.72 -9.4 8.18 -6.11 -6.54 87.48 71.57 11.59 19.59 31.67 -38.2 59.98 67.88 59.98 67.88 -38.2 Net Income Before Extraordinary Items Total Extraordinary Items Net Income 1.22 1.4 56.7 61.2 69.28 18.5 Calculate the appropriate ratios to discuss each aspects from the 4 above and then provide a trend analysis using the approach analysis for the last three years. Aspect 1: Profitability using 3-leve ont system Paragraph BI U DuPont System Calculation Question 2 (10 points) Aspect 2: Short term solvency Ratios