You have been hired as an analyst for AH Bank and your team is working on an independent assessment of Flipper Inc., which is a firm that specializes in the production of freshly imported farm products from France. Your assistant has provided you with the following data for Flipper Inc and their industry.

Ratio	2019	2018	2017	2019- Industry Average
Long-term debt	0.45	0.40	0.35	0.35
Inventory Turnover	62.65	42.42	32.25	53.25
Depreciation/Total Assets	0.25	0.014	0.018	0.015
Days sales in receivables	113	98	94	130.25
Debt to Equity	0.75	0.85	0.90	0.88
Profit Margin	0.082	0.07	0.06	0.075
Total Asset Turnover	0.54	0.65	0.70	0.40
Quick Ratio	1.028	1.03	1.029	1.031
Current Ratio	1.33	1.21	1.15	1.25
Times Interest Earned	0.9	4.375	4.45	4.65
Equity Multiplier	1.75	1.85	1.90	1.88

Instructions:

In the annual report to the shareholders, the CEO of Flipper Inc wrote, It was a good year for the firm with respect to our ability to meet our short-term obligations as well as make a good profit and return to shareholders due to improved efficiency.

Do you agree with the CEO? Explain and use only relevant information in your analysis.

Make sure your analysis is comprehensive covering all areas the CEO has mentioned in his statement including trend and cross sectional analysis.