QUESTIONS 1. Using the data in Exhibits C2.1 and C2.2, calculate and analyze the firm's 2012 and 2013 ratios. 2. Part of Owen's evaluation will consist of comparing the firm's ratios to the industry as shown in Exhibit C3.3. Discuss the limitations of such a comparative financial analysis. In view of these limitations, why are such industry comparisons so frequently made? (Note: Sales are forecast to be $8.25 million in 2014.) 3. Owen thinks that the profitability of the firm has been hurt by Tessa's reluc- tance to use much interest-bearing debt. Is this a reasonable position? Explain