15. In the summary of significant accounting policies, what is American Eagle's procedure in accounting for inventory? 16. Calculate American Eagle's inventory turnover ratio and average days in inventor for the most recent year. 17. Calculate American Eagle's gross profit ratio for each of the three years. Do you notice any trend? (2 pts) 18. For the most recent year, calculate American Eagle's asset turnover ratio for the current year. 19. Calculate the current ratio for the past two years. Did the current ratio improve or weaken in the more recent years? (2 pts) 20. What was the percentage change in (1) sales and (2) net income from year ended Feb 3" 2018 to year ended Feb 2" 2019 and year ended Feb 2" 2019 to Feb 1" 2020? (2 pts) 21. If American Eagle used $100 million in cash investments to pay $100 million in accounts payable, how would its current ratio and working capital change? Show you calculations. (2 pts) 22. Which depreciation method is used by American Eagle? What are the estimated useful lives for buildings, leasehold improvements, fixtures and equipment and information technology? (2 pts)