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Part One: The Excel file titled Lone Star Analysis Sheets contains financial information for 2021 and 2020. 1. Prepare a Comparative Balance Sheet with

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Part One: The Excel file titled "Lone Star Analysis Sheets" contains financial information for 2021 and 2020. 1. Prepare a Comparative Balance Sheet with vertical analysis (required columns added). Tab 1 2. Prepare a Comparative Income Statement with horizontal analysis (required columns added). Tab 2 3. Based on the financial information given: calculate the following 2021 ratios for the company (formulas are shown, but you are to show calculations and answers) Tab 3. To aid in your analysis the Smart Phone covers industry ratios are provided as a comparison resource. Depending on the Case (A, B or C) assume the industry ratios below. Industry Ratio A B b. Quick ratio a. Current Ratio c. Accounts Receivable Turnover d. Inventory Turnover 1.75 4.50 3.40 1.50 3.40 2.60 8.30 12.50 7.90 12.00 8.20 14.00 e. Number of Days Sales in Inventory 30.00 39.00 26.00 f. Debt to Equity Ratio .45 .25 .72 g. Rate earned on Total Assets 32.60% 56.00% 42.30% h. Rate earned on Stockholders' Equity 44.30% 48.60% 62.40% 1. Earnings Per Share (add'l shares sold on Jan1, 2021) $1.33 $1.53 $2.08 j. Profit Margin Ratio 15.30% 21.50% 24.00%

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