c. Operating profits d. Operating expenses e. Earnings available for common stockholders f. Total assets g. Total common stock equity h. Accounts receivable P3-23 Cross-sectional ratio analysis Use the financial statements below and page for Fox Manufacturing Company for the year ended December b with the industry average ratios below to do the following: a. Prepare and interpret a complete ratio analysis of the firm's 2015 b. Summarize your findings and make recommendations. Fox Manufacturing Company Income Statement for the Year Ended December 31, 2015 Sales revenue Less: Cost of goods sold $600,000 460,00 $140,000 Gross profits Less: Operating expenses $30,000 General and administrative expenses Depreciation expense Total operating expense Operating profits 80,000 Less: Interest expense Net profits before taxes s 70,000 Less: Taxes taxes (Hint: Earnings available for common stockholders as there are no preferred stockholders) Earnings per share (EPS) 42900 $2.15 P3-24 Industry avcage, 2015 Ratio Current ratio Quick ratio Inventory turnover Average collection period Total asset turnover Debt ratic Times interest carned ratio Gross profit Operating profit margin 35.8 days 0.300 12.3 0.202 0.135 protit marn Return on total assets (ROA) etu on common equity (ROB Earnings per share (EPS) 0,099 0.167 $3.10 Based on a 365-day year and on end-of year figures