Ratio Analysis at S&S Air, Inc

Please help me answer these questions:

Complete the case using the questions below and the attached spreadsheet

Chris Guthrie was recently hired by S&S Air, Inc to assist a company with its financial planning and evaluate its performance. Chris graduated from college five years ago with a finance degree. Since then, he has been employed in the finance department of a Fortune 500 company. S&S air was founded 10 years ago by friends Mark Sexton and Todd Story. The company has manufactured and sold light airplanes over this., And the company's products have received high reviews for safety and reliability. The company has a niche market in that it sells primarily to individuals who own and fly their own airplanes. The company has two models: the birdie, which sells for $103,000, and the eagle, which sells for $178,000.

Although the company manufactures aircraft, its operations are different from commercial aircraft companies. S&S Air builds aircraft to order. By using pre-fabricated parts, the company can complete the manufacture of an airplane and only five weeks. The company also receives a deposit on each order, as well as another partial payment before the order is complete. In contrast, a commercial airplane may take one and a half years to two years to manufacture once the order is placed. Mark and Todd have provided the following financial statements. Chris has gathered the industry ratios for the light airplane manufacturing industry.

Tax rate Sales COGS Other expenses Depreciation \begin{tabular}{llc} \cline { 2 - 3 } EBIT & $ & \\ \cline { 2 - 3 } Interest & $ & \\ \cline { 2 - 3 } Taxable income & $ & \\ \cline { 2 - 3 } Taxes (0%) & $ & \\ Net income & $ \end{tabular} Dividends Add to RE $ Long-term debt Shareholder Equity Common stock Retained earnings Total Equity Total L\&E $ Current ratio Quick ratio Cash ratio Total asset turnover Inventory turnover Receivables turnover Total debt ratio Debt-equity ratio Equity multiplier Times interest earned Cash coverage ratio Profit margin Return on assets Return on equity S\&S AIR, INC. 2021 BALANCE SHEET \begin{tabular}{lccc} & Light Airplane Industry Ratios & \\ & Lower Quartile & Median & Upper Quartile \\ Current ratio & .50 & 1.43 & 1.89 \\ Quick ratio & .21 & .35 & .62 \\ Cash ratio & .08 & .21 & .39 \\ Total asset turnover & .68 & .85 & 1.38 \\ Inventory turnover & 4.89 & 6.15 & 10.89 \\ Receivables turnover & 6.27 & 9.82 & 14.11 \\ Total debt ratio & .41 & .52 & .61 \\ Debt-equity ratio & .68 & 1.08 & 1.56 \\ Equity multiplier & 1.68 & 2.08 & 2.56 \\ Times interest earned & 5.18 & 8.06 & 9.83 \\ Cash coverage ratio & 5.84 & 9.41 & 10.27 \\ Profit margin & 4.05% & 5.10% & 7.15% \\ Return on assets & 6.05% & 9.53% & 13.21% \\ Return on equity & 9.93% & 15.14% & 19.15% \\ \hline \end{tabular} Tax rate Sales COGS Other expenses Depreciation \begin{tabular}{llc} \cline { 2 - 3 } EBIT & $ & \\ \cline { 2 - 3 } Interest & $ & \\ \cline { 2 - 3 } Taxable income & $ & \\ \cline { 2 - 3 } Taxes (0%) & $ & \\ Net income & $ \end{tabular} Dividends Add to RE $ Long-term debt Shareholder Equity Common stock Retained earnings Total Equity Total L\&E $ Current ratio Quick ratio Cash ratio Total asset turnover Inventory turnover Receivables turnover Total debt ratio Debt-equity ratio Equity multiplier Times interest earned Cash coverage ratio Profit margin Return on assets Return on equity S\&S AIR, INC. 2021 BALANCE SHEET \begin{tabular}{lccc} & Light Airplane Industry Ratios & \\ & Lower Quartile & Median & Upper Quartile \\ Current ratio & .50 & 1.43 & 1.89 \\ Quick ratio & .21 & .35 & .62 \\ Cash ratio & .08 & .21 & .39 \\ Total asset turnover & .68 & .85 & 1.38 \\ Inventory turnover & 4.89 & 6.15 & 10.89 \\ Receivables turnover & 6.27 & 9.82 & 14.11 \\ Total debt ratio & .41 & .52 & .61 \\ Debt-equity ratio & .68 & 1.08 & 1.56 \\ Equity multiplier & 1.68 & 2.08 & 2.56 \\ Times interest earned & 5.18 & 8.06 & 9.83 \\ Cash coverage ratio & 5.84 & 9.41 & 10.27 \\ Profit margin & 4.05% & 5.10% & 7.15% \\ Return on assets & 6.05% & 9.53% & 13.21% \\ Return on equity & 9.93% & 15.14% & 19.15% \\ \hline \end{tabular}