Q4. Case Study Assessing Martin Manufacturing's Current Financial Position:

Terri Spiro, an experienced budget analyst at Martin Manufacturing Company, has been charged with assessing the firm's financial performance during 2003 and its financial position at year-end 2003. To complete this assignment, she gathered the firm's 2003 financial statements, which follow. In addition, Terri obtained the firm's ratio values for 2001 and 2002, along with the 2003 industry average ratios (also applicable to 2001 and 2002). These are presented in the table on page 94.