McCormick & Company, Inc., is a global leader in the manufacture, marketing, and distribution of spices, seasoning mixes, condiments, and other products to the food industry. McCormick & Company, Inc., reported the following in its 2018 Annual Report:

Analyze:
1. What is the current ratio for both 2018 and 2017?
2. Did the current ratio improve or decline from 2017 to 2018?
3. The company reported net sales of $5,408.9 million and gross profit of $2,371.6 million for its fiscal year ended November 30, 2018. What is the gross profit percentage for this period?

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(in millions) Total Current Assets Total Assets Total Current Liabilities Total Liabilities Consolidated Balance Sheet November 30 2018 $1,479.9 $10,256.4 $2,001.7 $7,074.2 2017 $1,617.0 $10,385.8 $1,947.3 $7,814.9