Cross-sectional ratio analysis Use the financial statements for Fox Manufacturing Company for the year ended December 31,2021 , along with the industry average ratios to a. Prepare and interpret a complete ratio analysis of the firm's 2021 operations. Enter all ratios in decimal format. b. Summarize your findings and make recommendations. Fox Manufacturing Company Income Statement for the Year Ended December 31, 2021 \begin{tabular}{lr} \hline Sales revenue & $605,000 \\ Less: Cost of goods sold & 458,000 \\ Gross profits & $147,000 \\ Less: Operating expenses & $30,000 \\ General and administrative expenses & 30,000 \\ Depreciation expense & 60,000 \\ Total operating expense & $87,000 \\ Operating profits & 10,200 \\ Less: Interest expense & $76,800 \\ Net profits before taxes & 15,000 \\ \hline Less: Taxes & $61,800 \\ Net profits after taxes (earnings available & $3,03 \end{tabular} Fox Manufacturing Company Balance Sheet December 31, 2021 Assets \begin{tabular}{lr} \hline Cash & $15,300 \\ Marketable securities & 6,700 \\ Accounts receivable & 34,200 \\ Inventories & 82,300 \\ Total current assets & $138,500 \\ Net fixed assets & 272,000 \\ Total assets & $410,500 \\ \hline Liabilities and Stockholders' Equity & \\ \hline Accounts payable & $57,100 \\ Notes payable & 13,100 \\ Accruals & 4,800 \\ Total current liabilities & $75,000 \\ \hline Long-term debt & $152,300 \\ Common stock equity (20,000 shares & \\ outstanding) & $110,500 \\ Retained earnings & 72,700 \\ Total stockholders' equity & \\ Total liabilities and stockholders' equity & $183,200 \\ \hline \end{tabular} (Click the icon here p in order to copy the contents of the data table below into a spreadsheet)