Memo Analysis with brief explanations, please

1. Balance sheet (with the income statement): Where do you see potential problems and strengths? Attached is a handout I use when I teach on-campus which you may use to answer the following regarding if the company is:Liquid? (see current ratio and acid ratio).
2. Solvent? (see debt to equity and debt to total assets).
3. Efficient? (See inventory turnover ratio and accounts receivable ratio).