please answer the mini case question and enter into a excel doc. Questions 1,2, and 3 are located on second photo. thanks

MINICASE Ratio Analysis at S&S Air, Inc. Chris Guthrie was recently hired by S&S Air, Inc., to assist the company with its financial planning and to evaluate the company's performance. Chris graduated from college five years ago with a finance degree. Since then, he has been employed in the finance department of a Fortune 500 company. S&S Air was founded 10 years ago by friends Mark Sexton and Todd Story. The company has manufactured and sold light airplanes over this period, and the company's products have received high reviews for safety and reliability. The company has a niche market in that it sells primarily to individuals who own and fly their own airplanes. The company has two models: the Chapter 3 Woher with Financial Statements 95 Bindic, which sells for $103,000, and the Eagle, which seits for SI78.000 Although the company manufactures aircraft, its opera tions are different from commercial aircraft companies. S&S Air builds aircraft to order. By using prefabricated parts the company can complete the manufacture of an airplane in only five weeks. The company also receives a deposit on cach order, as well as another partial payment before the order is complete. In contrast a commercial airplane may take one and one-half to two years to manufacture once the order is placed Mark and Todd have provided the following financial statements. Chris has gathered the industry ratios for the light airplane manufacturing industry, S&S AIR.INC 3021 come Statement Sales Cost of goods sold Other expenses Depreciation EBIT Interest Table income Taxes (254 Net income Dividends $ 565,000 Add to retained earnings 1.289.232 $37,038.492 27.6291530 4,596,692 1,659 882 $3,052 388 580,078 5 2,472,310 618,078 $ 1,854,232 Assets Current assets Cash Accounts receivable Inventory Total current assets SES AIR, INC. 2021 BALANCE SHEET Liabilities and Equity Current Babies $ 419,970 Accounts payable $ 854,685 674 475 Notes payable 1.951642 988.129 Total current liabilities 5 2.806 327 $ 2,082 574 Long-term debt $ 5,100,000 Foxed assets Net plant and equipment $16.305,556 Shareholder equity Common stock Retained earnings Total equity Total abilities and equity $ 410,000 10071,803 $19.481,803 $18,388.130 Total assets $18.388.130 Upper Quartie 189 Cash ratio Light Airplane Industry Rios Lower Quartile Median Current ratio 50 1.43 Quick ratio 21 .35 08 21 Total asset turnover .68 .85 Inventory turnover 4.89 6.15 Receivables turnover 6:27 9.82 Total debt ratio 41 52 Debt-equity ratio 6B 1.08 Equity multiplier 1.68 2.08 Times interest earned 5.18 8.06 Cash coverage ratio 5.84 941 405 5.10 505 9.53% 9.93% 15.14% 52 39 1.38 10.89 14.11 61 1.56 256 983 10.27 7.15% 13.21% 19.15% QUESTIONS 1. Using the financial statements provided for S&S Air, calculate each of the ratios listed in the table for the light aircraft industry 2. Mark and Todd agree that a ratio analysis can provide a measure of the company's performance They have chosen Boeing as an aspirant company Would you choose Boeing as an aspirant company? Why or why not? There are other aircraft manufac- turers SRS Air could use as aspirant companies Discuss whether it is appropriate to use any of the following companies Bombardier. Embraer, and Cirrus Aircraft Corporation 3. Compare the performance of S&S Air to the industry. For eachi ratio, comment on why it might be viewed as positive or negative relative to the industry. Suppose you create an inventory ratio calculated as inventory divided by current liabilities. How do you think SRS Air's ratio would compare to the industry average! Profit margin Return on assets Return on equity