In your textbook, Fundamentals of Corporate Finance, read:

Chapter 3, Working with Financial Statements, pages 5780 (sections 3.3, 3.4, and 3.5)

Download and review the PowerPoint file Chapter 3 Working with Financial Statements.ppt to help you further understand the chapter.

In your textbook, Fundamentals of Corporate Finance, complete the requirements of the Mini-case Ratio Analysis at S&S Air, Inc. on pages 89 and 90:

Question # 1: Use an Excel spreadsheet to calculate each of the ratios listed in the table. Be sure to show your work.

Question #2: Briefly comment in your Excel spreadsheet on the appropriateness of Boeing and the other competitors as an aspirant company for comparison.

Question # 3: In your Excel spreadsheet, compare each calculated ratio to the industry ratios given in the table. Briefly explain whether the calculated ratio would be viewed positively or negatively relative to the industry and why. (Exclude the second half of this question regarding the creation of an inventory ratio)