Given the following historical ratios, and industry averages, analyze James fox corporations overall financial situation from both a cross-sectional and a time-series viewpoint. Break your analysis into evaluations of the firms liquidity, activity, financial risk, profitability, efficiency and market. (10)

Financial Ratios	2017	2018	Industry Average 2018
Current Ratio	3.1	2.5	3
Quick Ratio	2.1	1.8	2.5
Cash ratio	1.1	0.5	0.1
Average collection period	30	25	23
Payment period	10	20	15
Inventor processing period	20	15	18
Cash conversion cycle	40	20	26
GP margin	65%	70%	55%
NP margin	15%	20%	14%
ROA	12%	14%	12%
ROE	9.6%	10%	8%
Total Asset turnover	10	18	10
Fixed Asset Turnover	7	10	8
Debt Ratio	40%	40%	50%
EPS	.5	.8	.2
Debt to Equity	.8	.5	.4
TIE ratio	3.0	5.2	2.5
Fixed charges coverage ratio	.5	.4	.8
P/E ratio	25	40	12
M/B value ratio	2.5	4.0	1.2