To get a first impression about 4-Airlines financial situation and performance, use the financial information integrated in the case to calculate liquidity ratios (i.e. Accounts Receivable Turnover, Debt to Equity and Current Ratios), profitability ratios (i.e. ROE, ROA, Profit Margin, Share of Fuel Cost in Total Cost, Share of Aircraft Leases in Total Cost) and solvency ratios (i.e. Asset to Equity, Times Interest Earned). Also, compare 4-Airlines ratios to the industry ratios provided in the case. Identify and discuss any major differences. Try to analyse which risks may result from modifications to the balance sheet and income statement with respect to key figures for the auditor