BACKGROUNDS&S Air, Inc. was founded $10$ years ago. 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 Birdie, which sells for $$103,000,$ and the Eagle, which sells for $$178,000.$ Although the company manufactures aircraft, its operations 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 $5$ weeks. The company also receives a deposit on each order, as well as another partial payment before the order is complete. In contrast, a commercial airplane may take $1$ h to $2$ years to complete once the order is placed.Ratios to Include in AnalysisShort Term Liquidity Ratios Asset Management Financial Leverage Ratios Profitability RatiosCurrent Ratio Total asset turnover Debt Ratio Gross MarginQuick Ratio Inventory Turnover Equity Ratio EBIT MarginDays Sales in Inventory Debt$/$Equity Ratio Profit MarginReceivables Turnover Equity Multiplier ROADays Sales Outstanding Times Interest Earned ROE Cash Coverage Dividend Payout RatioANALYSIS REQUIREMENTS$1.($IOpts$)$ PREPARE THE FINANCIAL SCHEDULES using the EXCEL templates. Round to whole number for indices and bps$.$ Use $1$ decimal place for $\%$ calculations, use $2$ decimal places for other ratios.A$.$ INCOME STATEMENT SCHEDULE: $(3$pts$)1.$ Year over Year growth $\%\text{'}$s for each income statement item as applicable$\mathrm{.}2.$ Common size $(\%$ of sales$)$ for each income statement item.o Note: Use $\%$ of net income for Dividends and Add to RE$.$ Makes more sense$\mathrm{.}3.$ Common Base Year. Index to base year for each I$/$S item $($base year $=2019)\mathrm{.}4.$ Combined. Index to base for each I$/$S item using common size $\%\text{'}$s$.$B$.$ BALANCE SHEET SCHEDULE $(3$pts$)1.$ Year over Year growth $\%\text{'}$s for each balance sheet item as applicable$\mathrm{.}2.$ Common size $(\%$ of assets$)$ for each B$/$S item$\mathrm{.}3.$ Common Base Year. Index to base year for each B$/$S item $($base year $=2019)4.$ Combined. Index to base year for each B$/$S item using common size $\%\text{'}$s$.$c$.$ FINANCIAL RATIOS SCHEDULE $(2$pts$)1.$ Financial ratios for $3$ years. Include the change for each applicable year. Calculate the difference or for ratios that are not $\%\text{'}$s$,$ calculate the bps change for $\%\text{'}$s$.$D$.$ DUPONT IDENTITY ROE ANALYSIS $(2$pts$)$: Calculate ROE using the DuPont identity$\mathrm{.}2.(10$pts$)$ ASSESSMENT: Prepare an ANALYSIS using the standardized financial statements and ratios schedules. Discuss the following by looking at trends and comparisons to industry benchmarks. Provide key driver insights and assessments.A$.$ E$-$B$.$Q$.-$I.IA$.-$I.L$.$ILY: Sales and net income. Growth, dollars, $\%\text{'}$s$,$ etc. Gross margins and operating margins. ROE and ROA. Dupont identity key drivers. Retained earnings and their dividend payouts. Etc.B$.$ ASSET MANAGEMENT: Inventory metrics. Collections. Asset turnover and drivers. Etc.C$.$ SL$..$LI$.$QULQIIY. Current assets and liabilities. Etc.D$.$ F$!$NANCIAL LEVERAGE: The use of debt. Interest coverage. Etc$\mathrm{.}3.(5$pts$)$ SUMMARY PARAGRAPH$($s$).$ After completing the schedules and the assessment, what would you convey to management about the company's performance. This is essentially your $2$ minute "elevator speech". Limit to $2$ paragraphs.Financial Statement Information attached