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 a. Prepare and interpret a complete ratio analysis of the firm's 202 loperations. Enter all ratios in decimal format. b. Summarize your findings and make recommendations. a. The current rafio is (Round to two docimal places.) (Click the icon here in order to copy the contents of the data table below into a spreadsheet.) (Click the icon here in order to copy the contents of the data table below into a spreadsheet.) Fox Manufacturing Company Balance Sheet \begin{tabular}{lc} Ratio & Industry average, 2021 \\ \hline Current ratio & 2.35 \\ Quick ratio & 0.87 \\ Inventory turnover* & 4.55 times \\ Average collection period* & 35.9 days \\ Total asset turnover & 1.08 \\ Debt ratio & 0.29 \\ Times interest earned & 11.7 \\ Gross profit margin & 0.186 \\ Operating profit margin & 0.128 \\ Net profit margin & 0.109 \\ Return on total assets (ROA) & 0.114 \\ Return on common equity (ROE) & 0.201 \\ Earnings per share (EPS) & $3.41 \end{tabular} "Based on a 365-day year and on end-of-year figures. 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 a. Prepare and interpret a complete ratio analysis of the firm's 202 loperations. Enter all ratios in decimal format. b. Summarize your findings and make recommendations. a. The current rafio is (Round to two docimal places.) (Click the icon here in order to copy the contents of the data table below into a spreadsheet.) (Click the icon here in order to copy the contents of the data table below into a spreadsheet.) Fox Manufacturing Company Balance Sheet \begin{tabular}{lc} Ratio & Industry average, 2021 \\ \hline Current ratio & 2.35 \\ Quick ratio & 0.87 \\ Inventory turnover* & 4.55 times \\ Average collection period* & 35.9 days \\ Total asset turnover & 1.08 \\ Debt ratio & 0.29 \\ Times interest earned & 11.7 \\ Gross profit margin & 0.186 \\ Operating profit margin & 0.128 \\ Net profit margin & 0.109 \\ Return on total assets (ROA) & 0.114 \\ Return on common equity (ROE) & 0.201 \\ Earnings per share (EPS) & $3.41 \end{tabular} "Based on a 365-day year and on end-of-year figures