In Excel, please list the formula used to calculate each part along with values & answers. Only part A is needed. Also would appreciate reasoning / explanations.

Problem #1 (30 marks) Prepare a ratio analysis for Halifax Sports Inc. using an excel spreadsheet. The firm has 2 million shares authorized and has 1 million shares issued and outstanding. Halifax Sports Inc. Balance Sheet (5000) ASSETS Halifax Sports Inc. Balance Sheet (5000) 2020 2019 2020 2019 Current Assets Sales Revenues 125.000 160.000 96,000 9,000 Cost of Goods Sold 75.000 64,000 50,000 12,500 29,000 50,500 20,000 70,000 28,000 62.000 Contribution Margin Operating Expenses Salaries Wages General Admin Amort/Depr. Interest Farnings B4 Taxes Taxes 11.000 16,000 10,000 10,000 6,100 11.000 12,500 10,000 4,500 3,000 9,000 10,900 5,450 4,500 112,500 Earnings After tax 5.450 4,500 Cash 485 Short-term Investments 10 Cert. of Deposit 5 Accounts Receivable 16,000 Inventory 45,500 Total Current Assets 62,000 Land 26,000 Buildings and Equipment 100,000 Accumulated Amortization 38,000 Net Plant & Equipment 88,000 TOTALASSETS 150.000 LIABILITIES and SHAREHOLDERS EQUITY Current Liabilities Accounts Payable 22.000 Bank Note 40,000 Taxes Payable 2,500 Accrued Expenses 4,500 Total Current Liabilities 69,000 Long Term Debt First Mortgage Bonds 20.000 Debenture Bonds 2.950 Total Liabilities 22.950 Equity Common Shares 31.500 Retained Eamings 26,550 Total Equity 58,050 10,500 10,000 2,000 5.000 27.500 22,000 6,750 = 28.750 31,500 24.750 56,250 a) Using an excel spreadsheet calculate the following for both years: 30 marks NOTE: the use of the excel spreadsheet is mandatory and the excel spreadsheet must be embedded in the word document. Submitting a separate file to the spreadsheet is not acceptable. If the spreadsheet is not used, a mark of O will be applied to the question. Formula Values Industry Calculation Average 4.20 2.10 Ratio Current Ratio Quick Ratio Receivables tumover Day's Sales in Recievables Inventory Turnover Day's Sales in Inventory Debt to Total Assets Times Interest Farned 9.86 37.00 2.50 146.00 58.00% 3.80 1.14 Total Asset Turnover Fixed Asset Turnover 1.40 4.00% 15.00% Return on Total Assets Return on Equity Gross Profit Margin Operating Profit Margin Profit Margin 38.00% 10.00% 3.50% You need to show your work for your calculations. For example Equity Multiplier Assets 150,000 2.584 Equity 58,050