Show how to the put the formula in excel 
Fly X, Inc. Income Statement $ $ Sales Cost of Goods Sold Gross Profit Other Expenses Depreciation EBIT Interest EBT Taxes (40%) Net Income 24,092,400 17,982,000 6,110,400 2,878,800 786,000 2,445,600 434,400 2,011,200 804,480 1,206,720 $ Dividends Add to Retained Earn. $ $ 246,000 960,720 Fly X Balance Sheet $ Assets Cash $ Accounts Receivable Inventory Current Assets $ Net Fixed Assets Liabilities & Equity 438,048 Accounts Payable 1,841,616 Notes Payable 1,486,200 Current Liabilities 3,765,864 Long Term Debt 14,778,816 Common Stock Retained Earnings Total Equity 18,544,680 Total Liabilities & Equity $ 858,816 1,735,680 2,594,496 4,590,000 180,000 11,180, 184 11,360,184 $ 18,544,680 Total Assets $ $ Fly X Ratios Current Ratio Quick Ratio Asset Turnover Ratio Inventory Turnover Ratio Receivables Turnover Total Debt Ratio Equity Multiplier Times Interest Earned Profit Margin Return On Assets Return On Equity Median Industry 1.43X 0.84x 0.85 6.15 9.82 0.52 2.08 8.06 5.15% 10.53% 16.54% Instructions 1. Calculate the financial ratios for Fly X that are shown in the Industry above. Remember to carry your calculations to the hundredths place. 2. Perform a Vertical Analysis of the Income Statement using Sales as the denominator 3. Compare the performance of Fly X to the Industry. For each ratio, comment on whether Fly X is positive or negative relative to the Industry 4. The CEO and CFO are debating about whether the Company should compare its financial results to a large commercial aircraft manufacturer such as Boeing. The CEO wants to compare the information to persuade the board of directors to aspire to be like Boeing. The CFO believes this comparison is misleading since Fly X has differenct operations and is in a different industry. Pick a side of this arguement and support your answer. Fly X, Inc. Income Statement $ $ Sales Cost of Goods Sold Gross Profit Other Expenses Depreciation EBIT Interest EBT Taxes (40%) Net Income 24,092,400 17,982,000 6,110,400 2,878,800 786,000 2,445,600 434,400 2,011,200 804,480 1,206,720 $ Dividends Add to Retained Earn. $ $ 246,000 960,720 Fly X Balance Sheet $ Assets Cash $ Accounts Receivable Inventory Current Assets $ Net Fixed Assets Liabilities & Equity 438,048 Accounts Payable 1,841,616 Notes Payable 1,486,200 Current Liabilities 3,765,864 Long Term Debt 14,778,816 Common Stock Retained Earnings Total Equity 18,544,680 Total Liabilities & Equity $ 858,816 1,735,680 2,594,496 4,590,000 180,000 11,180, 184 11,360,184 $ 18,544,680 Total Assets $ $ Fly X Ratios Current Ratio Quick Ratio Asset Turnover Ratio Inventory Turnover Ratio Receivables Turnover Total Debt Ratio Equity Multiplier Times Interest Earned Profit Margin Return On Assets Return On Equity Median Industry 1.43X 0.84x 0.85 6.15 9.82 0.52 2.08 8.06 5.15% 10.53% 16.54% Instructions 1. Calculate the financial ratios for Fly X that are shown in the Industry above. Remember to carry your calculations to the hundredths place. 2. Perform a Vertical Analysis of the Income Statement using Sales as the denominator 3. Compare the performance of Fly X to the Industry. For each ratio, comment on whether Fly X is positive or negative relative to the Industry 4. The CEO and CFO are debating about whether the Company should compare its financial results to a large commercial aircraft manufacturer such as Boeing. The CEO wants to compare the information to persuade the board of directors to aspire to be like Boeing. The CFO believes this comparison is misleading since Fly X has differenct operations and is in a different industry. Pick a side of this arguement and support your
