please read the case carefully and please try to make the solutions of the problems and write the defination about them please

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Ed Cowan was recently hired by Tuxedo Air Inc. to assist the organization with its financial planning and to evaluate the organization's performance. Ed graduated from university six years ago with a finance degree. He has been employed in the finance department of a TSX100 company since then. Tuxedo Air was founded 12 years ago by friends Mark Taylor and Jack Rodwell. The organization manufactured and sold light airplanes over this period, and its products have received high reviews for safety and reliability. The organization has a niche market in that it sells primarily to individuals who own and fly their own airplanes. The company has two models; the Sparrow, which sells for $53,000, and the Vulture, which sells for $78,000. Although the company manufactures aircraft, its operations are different from commercial aircraft companies. Tuxedo Air builds aircraft to order. By using prefabricated parts, the organization can complete the manufacture of an airplane in only five weeks. The organization also receives a deposit on each 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 Jack have provided the following financial statements. Ed has gathered the industry ratios for the light airplane manufacturing industry. Tuaredo Alr Inc. 2015 Statement of Comprehensive Income Sales $36,599,300 Cost of goods sold 26,669,496 Other expenses 4,641,000 Depreciation 1.640.200 EBIT $ 3,648,604 Interest 573,200 Taxable income $ 3,075,404 Taxes (40%) 1,230,162 Net income $ 1.845242 Dividends $ 560,000 Add to retained earnings 1,285,242 Click here for a description of Table: Mini Case: Tuxedo Air Inc. 2015 Statement of Comprehensive Income. Assets Current Assets Cash Accounts receivable Tuxedo Alr Inc. 2015 Statement of Financial Position Labilities and Equity Current liabilities $ 39,900 Accounts payable 637,560 Notes poyable Total current liabilities 933.400 $ 844,550 1.928,500 2,773,050 Inventory Inventory 933,400 Total current assets $ 1,967,860 Long-term debt $ 5,050,000 Fixed assets Owners' equity Net plant and equipment $15,411,620 Common stock $ 322,500 Retained earnings 9233 930 Total equity 59556,430 Total assets $17,379,480 Total liabilities and owners' equity 517 379 480 Click here for a description of Table: Mini Case: Tuxedo Air Inc. 2015 Statement of Financial Position. Light Airplane Industry Ratlos Lower Quartile Medan Upper Quartile Current ratio 0.50 1.43 1.89 Quick ratio 0.21 0.38 0.62 Cash ratio 0.08 021 0.39 Total asset turnover 0.68 0.85 1.38 Inventory turnover 489 6.15 10.89 Receivables turnover 6.27 982 14.11 Total debt ratio 0.44 0.52 0.61 Debt-equity ratio 0.79 108 1.56 Equity multiplier 1.79 2.08 2.56 Times interest earned 5.18 8.06 9.83 Cash coverage ratio 5.84 8.43 1027 Profit margin 4.05% 6.99% 487% Return on Assets 6.05% 10.53% 13.21% Return on equity 493% 16.54% 26.15% Click here for a description of Table: Mini Case: Light Airplane Industry Ratios. Questions 1. Using the financial statements provided for Tuxedo Air, calculate each of the ratios listed in the table for the light aircraft industry. 2. Mark and Jack agree that a ratio analysis can provide a measure of the company's performance. They have chosen Bombardier as an aspirant company. Would you choose Bombardier as an aspirant company? Why or why not? There are other aircraft manufacturers Tuxedo Air could use as aspirant companies. Discuss whether it is appropriate to use any of the following companies: Boeing, XOJET, Piper Aircraft, and AeroCentury. 3. Compare the performance of Tuxedo Air to the industry. For each 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 Tuxedo Air would compare to the industry average? Step 1. Define the problem (15% of assignment grade) Be sure to identify the problem and not the symptom of a problem. For example, a decline in sales is a symptom of a problem; you must identify the actual cause of the decline in sales. Step 2. Formulate alternative solutions to the problem (20% of assignment grade) It may be helpful to brainstorm as many solutions as you can and then narrow your list down to three or four solutions you feel are the strongest. Step 3. Evaluate and compare the alternative solutions (35% of assignment grade) To evaluate alternative solutions you should consider their strengths (e.g., increased productivity) and their weaknesses (e.g., increased cost). Step 4. Recommend and justify an effective solution (30% of assignment grade) Be sure to record the reasons why the chosen solution is most effective. In your analysis you must provide a recommendation that is supported by your analysis. Note: Your analysis may require that you identify more than one problem and develop a set of recommendations. Ed Cowan was recently hired by Tuxedo Air Inc. to assist the organization with its financial planning and to evaluate the organization's performance. Ed graduated from university six years ago with a finance degree. He has been employed in the finance department of a TSX100 company since then. Tuxedo Air was founded 12 years ago by friends Mark Taylor and Jack Rodwell. The organization manufactured and sold light airplanes over this period, and its products have received high reviews for safety and reliability. The organization has a niche market in that it sells primarily to individuals who own and fly their own airplanes. The company has two models; the Sparrow, which sells for $53,000, and the Vulture, which sells for $78,000. Although the company manufactures aircraft, its operations are different from commercial aircraft companies. Tuxedo Air builds aircraft to order. By using prefabricated parts, the organization can complete the manufacture of an airplane in only five weeks. The organization also receives a deposit on each 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 Jack have provided the following financial statements. Ed has gathered the industry ratios for the light airplane manufacturing industry. Tuaredo Alr Inc. 2015 Statement of Comprehensive Income Sales $36,599,300 Cost of goods sold 26,669,496 Other expenses 4,641,000 Depreciation 1.640.200 EBIT $ 3,648,604 Interest 573,200 Taxable income $ 3,075,404 Taxes (40%) 1,230,162 Net income $ 1.845242 Dividends $ 560,000 Add to retained earnings 1,285,242 Click here for a description of Table: Mini Case: Tuxedo Air Inc. 2015 Statement of Comprehensive Income. Assets Current Assets Cash Accounts receivable Tuxedo Alr Inc. 2015 Statement of Financial Position Labilities and Equity Current liabilities $ 39,900 Accounts payable 637,560 Notes poyable Total current liabilities 933.400 $ 844,550 1.928,500 2,773,050 Inventory Inventory 933,400 Total current assets $ 1,967,860 Long-term debt $ 5,050,000 Fixed assets Owners' equity Net plant and equipment $15,411,620 Common stock $ 322,500 Retained earnings 9233 930 Total equity 59556,430 Total assets $17,379,480 Total liabilities and owners' equity 517 379 480 Click here for a description of Table: Mini Case: Tuxedo Air Inc. 2015 Statement of Financial Position. Light Airplane Industry Ratlos Lower Quartile Medan Upper Quartile Current ratio 0.50 1.43 1.89 Quick ratio 0.21 0.38 0.62 Cash ratio 0.08 021 0.39 Total asset turnover 0.68 0.85 1.38 Inventory turnover 489 6.15 10.89 Receivables turnover 6.27 982 14.11 Total debt ratio 0.44 0.52 0.61 Debt-equity ratio 0.79 108 1.56 Equity multiplier 1.79 2.08 2.56 Times interest earned 5.18 8.06 9.83 Cash coverage ratio 5.84 8.43 1027 Profit margin 4.05% 6.99% 487% Return on Assets 6.05% 10.53% 13.21% Return on equity 493% 16.54% 26.15% Click here for a description of Table: Mini Case: Light Airplane Industry Ratios. Questions 1. Using the financial statements provided for Tuxedo Air, calculate each of the ratios listed in the table for the light aircraft industry. 2. Mark and Jack agree that a ratio analysis can provide a measure of the company's performance. They have chosen Bombardier as an aspirant company. Would you choose Bombardier as an aspirant company? Why or why not? There are other aircraft manufacturers Tuxedo Air could use as aspirant companies. Discuss whether it is appropriate to use any of the following companies: Boeing, XOJET, Piper Aircraft, and AeroCentury. 3. Compare the performance of Tuxedo Air to the industry. For each 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 Tuxedo Air would compare to the industry average? Step 1. Define the problem (15% of assignment grade) Be sure to identify the problem and not the symptom of a problem. For example, a decline in sales is a symptom of a problem; you must identify the actual cause of the decline in sales. Step 2. Formulate alternative solutions to the problem (20% of assignment grade) It may be helpful to brainstorm as many solutions as you can and then narrow your list down to three or four solutions you feel are the strongest. Step 3. Evaluate and compare the alternative solutions (35% of assignment grade) To evaluate alternative solutions you should consider their strengths (e.g., increased productivity) and their weaknesses (e.g., increased cost). Step 4. Recommend and justify an effective solution (30% of assignment grade) Be sure to record the reasons why the chosen solution is most effective. In your analysis you must provide a recommendation that is supported by your analysis. Note: Your analysis may require that you identify more than one problem and develop a set of recommendations