Chapter 28: Financial Analysis S&S AIR, INC. 2019 Income Statement Sales Cost of goods sold Other expenses Depreciation EBIT Interest Taxable income Taxes (21%) Net income Dividends $270,600 Additions to retained 1,476,090 earings $26.501,600 19,780,200 3,166.700 864,500 $ 2,690.200 479,200 $ 2.211,000 464,310 $ 1,746,690 Light Alrplane Industry Ratlos Lower Quartile Median Upper Quartile .50 .64 .08 1.43 .84 21 .85 6.15 9.82 4.89 6.27 1.89 1.05 .39 1.13 10.89 11.51 .61 1.56 2.56 .52 Current ratio Quick ratio Cash ratio Total asset tumover Inventory turnover Receivables turnover Total debt ratio Debt-equity ratio Equity multiplier Times interest earned Cash coverage ratio Profit margin Return on assets Return on equity SRS AIR, INC. 2019 Balance Sheet Assets Liabilities and liquity Current assets Current liabilities Cash $ 481852 Accounts payable 944,698 Accounts receivable 2025,778 Notes payable 1,909,248 Inventory 1.634.820 Total current liabilities $2,853.946 Total current assets $ 4,142 A50 Fixed assets Long-term debt $ 5,060,000 Net plant and $16.256,698 Shareholder equity equipment Common stock $ 190,000 Retained earnings 12.295 202 Total equity $12,485 202 Total assets $20,309,148 Total liabilities and equity $20,399,148 9.83 58 1.58 5.18 5.84 4.05% 6.05% 9.93% 1.08 2.08 8.06 8.43 6.75% 10.53% 16.54% 10.27 8.47% 13.21% 26.15% 3 5 points After Showing the Formula, Calculate The Current Ratio. Compare the performance to the industry. Comment on why it might be viewed as positive or negative relative to the industry