Dugo Bay Marine Motors Balance Sheets ( in thousands) The following table lists the 2015 and 2016 financial statements for Otago Bay Marine Motors, a major manufacturer of top-of-the-line outboard motors. As of December 31 2010 2016 Assets Current assets 550.203 $ 20,650 $ 29,794 55,701 $ 111,914 5 137,273 IS 60,574) S 36,609 5 105,327 $ 303,940 S 30.042 5 12.888 $ 24,845 $ 0,630 $ 133,212 5 B5,024 (5.46 762) 540.257 $ 51,001 $ 224 470 Cash and cash equivalents Accounts receivable, net of allowances Inventories Prepaid expenses Total current assets Property, plant, and equipment, al cost Less: Accumulated depreciation and amortization Net fixed assets Other assets Total assets Lisbilities and shareholders' equity Current liabilities Notes and accounts payablo Dividends payable Accrued liabilities Total current liabilities Noncurrent liabilities Long-term debt Shareholders' equity Common stock Capital in excess of par value Retained earnings Total shareholders' equity Total liabilities and equity Average number of common shares outstanding Otago Bay Marine Motors Income statements (In thousands) 5 28.800 $ 1,026 $ 20,976 $ 50,862 $ 4,927 $ 791 $ 16,7810 S 22.490 S40,735 $ 20,268 $ 7,315 $ 111,108 $ 93.920 5 212.343 $ 300,040 $ 7,103 S 86,162 5 88,439 $ 181,704 $ 224 470 10,840,000 10,848,000 Sales revenue Cost of goods sold Gross profit margin Operating expenses Earnings from operations Other income (exponse), net Earnings before income taxes Provision for income taxes Net earnings Cash dividends (50.36 and 50.27 por share) Average price per shore of common stock in the fourth quarter of the year) For the Year Ended December 31 2016 2015 $ 259,693 5245,424 $ 133.978 5127123 $ 125,615 $ 118,301 $ 72,000 5 70 368 $ 53,517 $ 47,033 S 4,193 $ 3,089 5 67,710 $ 51,922 $ 22,268 $ 19,890 5 35 442 $ 32,032 3,769 $ 2.047 $ 74.25 S 80.75 a. On the basis of the information provided, calculate the following financial ratios for 2015 and 2016, Otago Bay Marine Motors Industry Average 2016 2015 (for 2016) Current ratio 2.36 Total asset turnover 127 Debt-equity ratio 10.00 Net profit margin 9.30 ROA 15.87 ROE 19.21 EPS 159 P/E ratio 19.87 Dividend yield Payout ratio 26 Price-to-book-value ratio 6.65 b. Considering the financial ratios you computed, along with the industry averages, how would you characterize the financial condition of Otago Bay Marine Motors? Explain