COMPR REHENSIVE/SPREADSHEET PRoSLEM RATIO ANALYSis The Corrigan Corporation's 2013 and 2014 financial sta alang with some industry average rabos a. Assess Corrigan's liquidiy position and determine how it compares with how the liquidity position has changed over time b. Assess Corrigan's asset management position and determine how it peers and how its asset management efficiency has changed over timeP c. Assess Corrigan's debt management position and determine how it peers and how its debt management has changed over time,p Assess Corrigan's profitability how its profitability position has changed over time ratios and determine how they compare e. Assess Corrigan's market value ratios and determine how its valuat peers and how it has changed over time Calculate Corrigan's ROE as well as the industry average ROE using the equation. From this analysis, how does Corrigan's financial position compare industry average numbers? f. 8 What do you think would happen to its ratios if the company initiated measures that allowed it to hold lower levels of inventory and substantialy the cost of goods sold? No cakculations are necessary. Think about which ration be affected by changes in these two accounts. Corrigan Corporation: Balance Sheets as of December 31 2014 2013 Cash $ 72,000 65,000 328,000 94000813,000 $1.405,000 $1,206,000 271,000 33,000 61.000 57.000 s receivable 439,000 Total current assets Land and building Machinery Other fixed assets Total assets 238,000 132,000 51836000 $1667000 Accounts payable Accrued liabilities Notes payable $ 80,000 s72,708 40.880 476990457.912 602,000 571,500 258,898 575,000 261,602 45010 Total current liabilities Long-term debt Common stock Retained eamings Total liabilities and equity 404,290 575,000 254,710 51836000 $1.667000 Corrigan Corporation: Income Statements for Years Ending December 31 2014 2013 Sales 4,240,000 $3.635,000 3,680,0002980000 655,000 297550 154 500 97,680 202.950 Cost of goods sold Gross operating profit 560,000 303,320 159,000 General administrative and selling expenses Depreclation EBIT