Perform the ratio analysis for the balance sheet below.

2 : Perform a ratio analysis for the years 19Xi and 19x0 using the following financial statements, and answer the subsequent questions. Firm X Balance Sheet as of 12/31/XX Assets 19X1 19X0 Current assets Cash and cash equivalents 953 $ 631 Accounts receivable 201 59 Inventory + . 5 824 4 655- Total current assets $ 6,978. $ 5, 345 Property and Equipment 4,63.5 i 114 Total assets $11,613 $ 6,459 Liabilities 19X1 19X0 Current liabilities ccounts payable S 783 685 ccrued expenses 490 496 entals owed 241 97 axes due 86 8.4 Total current liabilities $ 1, 600 S 1; 362 ong-term debt 3 , 054 564 Stal liabilities 4 , 654 1, 926 uity 6,959 4 ,533 tal liabilities & equity- $11 613-. $ - 6459Income Statement for the Fiscal Year Ended: 12/31/X1 12/31/X0 Sales $ 23,117 $ 18 , 428 Cost of goods sold 13, 174 10 , 630 Gross profit 9,943 7; 798 Selling & administrative expenses 7, 460 5;976 Earnings before interest & taxes 2,483 1, 822 Interest 317 177 Taxes 1, 029 698 Net income $ 1, 137 947 a. Fill in the table presented. Given the following industry averages, are any weaknesses revealed in the ratio analysis? Ind. Avg. 19X1 19X0 Current ratio 4:1 Quick ratio 0. 4:1 Average collection period 3 days Inventory turnover 5X Operating profit margin 118 Net profit margin 3.5% Return on asset 10% Return on equity Debt ratio. 50% Interest coverage 5X b . Evaluate the firm's performance on both time series and cross section basis over the 19x0 - 19X1 period