Cross-sectional ratio analysis. Use the financial statements for Fox Mamulacturing Company for the year ended December 31,2019 , along with the industry average ratios, to: a. Prepare and interpret a complete ratio analysis of the firm's 2019 operations. b. Summarize your findings and make recommendations. a. The current ratio is (Round to two decimal places.) Fox Manufacturing Company Income Statement (Click the icon here in order to copy the contents of the data table below into a spreadsheet.) Fox Manufacturing Company Balance Sheet December 31, 2019 Assets \begin{tabular}{lr} \hline Cash & $14,700 \\ Marketable securities & 7,200 \\ Accounts receivable & 33,800 \\ Inventories & 82,100 \\ Total current assets & $137,800 \\ Net fixed assets & 269,000 \\ Total assets & $406,800 \\ Liabilities and Stockholders' Equity & \\ \hline Accounts payable & $57,300 \\ Notes payable & 13,300 \\ Accruals & 4,700 \\ Total current liabilities & $75,300 \\ Long-term debt & $148,600 \\ Common stock equity (20,000 shares & $110,400 \\ outstanding) & 72,500 \\ Retained earnings & $182,900 \\ Total stockholders' equity & $406,800 \\ Total liabilities and stockholders' equity & \end{tabular} (Click the icon here in order to copy the contents of the data table below into a spreadsheet.)