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 SIAs FIVE categories of financial ratios.

PeriodStartPeriodEnd03/2109/2109/2003/2103/2009/2009/1903/2003/1909/19 Liquidity Ratios Cash Ratio Current Ratio Quick Ratio Leverage Ratios Total Debt/Equity Total Debt/Total Assets Long-Term Debt/Equity Long-Term Debt/Total Assets Turnover Ratios Accounts Receivable Turnover Days Sales Outstanding 2.282.722.4967.4733.9762.4531.441.411.691.5788.0738.1579.4834.431.111.301.2271.2730.8362.1126.860.280.440.35121.0834.9688.6825.600.160.410.3271.9027.7660.8923.51 Profitability Ratios Operating Margin Profit Margin Return on Equity PeriodStartPeriodEnd03/2109/2109/2003/2103/2009/2009/1903/2003/1909/19 Balance Sheet (In Millions of SGD) Assets \begin{tabular}{lrrrrr} Current Assets & 15,404 & 9,672 & 8,941 & 4,843 & 3,551 \\ \cline { 2 - 6 } Cash \& Cash Equivalents & 12,938 & 8,055 & 7,587 & 3,109 & 1,435 \\ Accounts Receiv & 1,189 & 903 & 791 & 699 & 1,391 \\ Inventories & 191 & 195 & 207 & 239 & 234 \\ Other ST Assets & 1,086 & 486 & 357 & 682 & 491 \\ Non-Current Assets & 28,963 & 27,909 & 27,227 & 28,870 & 28,044 \\ \hline Total Assets & 44,367 & 37,581 & 36,167 & 33,713 & 31,594 \\ \hline \hline \end{tabular} Liabilities \begin{tabular}{lrrrrr} Current Liabilities & 5,670 & 5,713 & 6,855 & 11,002 & 8,700 \\ \cline { 2 - 6 } 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 \\ \cline { 2 - 6 } 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 \\ \cline { 2 - 5 } \end{tabular} Total Shareholders' Equity \begin{tabular}{lllll} 22,335 & 16,278 & 15,645 & 9,733 & 12,198 \\ \hline \hline \end{tabular} \begin{tabular}{llllll} Total Liabilities \& Shareholders' Equity & 44,367 & 37,581 & 36,167 & 33,713 & 31,594 \\ \cline { 2 - 5 } \end{tabular} PeriodStartPeriodEnd03/2109/2109/2003/2103/2009/2009/1903/2003/1909/19 Cashflow Statement (In Millions of SGD) CashFlowfromOperationsCashFlowfromInvestingCashFlowfromFinancing3277325,0936063691,6872,6879458,0501,0332,2782,6001,6992,687664 PeriodStartPeriodEnd03/2109/2109/2003/2103/2009/2009/1903/2003/1909/19 Liquidity Ratios Cash Ratio Current Ratio Quick Ratio Leverage Ratios Total Debt/Equity Total Debt/Total Assets Long-Term Debt/Equity Long-Term Debt/Total Assets Turnover Ratios Accounts Receivable Turnover Days Sales Outstanding 2.282.722.4967.4733.9762.4531.441.411.691.5788.0738.1579.4834.431.111.301.2271.2730.8362.1126.860.280.440.35121.0834.9688.6825.600.160.410.3271.9027.7660.8923.51 Profitability Ratios Operating Margin Profit Margin Return on Equity PeriodStartPeriodEnd03/2109/2109/2003/2103/2009/2009/1903/2003/1909/19 Balance Sheet (In Millions of SGD) Assets \begin{tabular}{lrrrrr} Current Assets & 15,404 & 9,672 & 8,941 & 4,843 & 3,551 \\ \cline { 2 - 6 } Cash \& Cash Equivalents & 12,938 & 8,055 & 7,587 & 3,109 & 1,435 \\ Accounts Receiv & 1,189 & 903 & 791 & 699 & 1,391 \\ Inventories & 191 & 195 & 207 & 239 & 234 \\ Other ST Assets & 1,086 & 486 & 357 & 682 & 491 \\ Non-Current Assets & 28,963 & 27,909 & 27,227 & 28,870 & 28,044 \\ \hline Total Assets & 44,367 & 37,581 & 36,167 & 33,713 & 31,594 \\ \hline \hline \end{tabular} Liabilities \begin{tabular}{lrrrrr} Current Liabilities & 5,670 & 5,713 & 6,855 & 11,002 & 8,700 \\ \cline { 2 - 6 } 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 \\ \cline { 2 - 6 } 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 \\ \cline { 2 - 5 } \end{tabular} Total Shareholders' Equity \begin{tabular}{lllll} 22,335 & 16,278 & 15,645 & 9,733 & 12,198 \\ \hline \hline \end{tabular} \begin{tabular}{llllll} Total Liabilities \& Shareholders' Equity & 44,367 & 37,581 & 36,167 & 33,713 & 31,594 \\ \cline { 2 - 5 } \end{tabular} PeriodStartPeriodEnd03/2109/2109/2003/2103/2009/2009/1903/2003/1909/19 Cashflow Statement (In Millions of SGD) CashFlowfromOperationsCashFlowfromInvestingCashFlowfromFinancing3277325,0936063691,6872,6879458,0501,0332,2782,6001,6992,687664