ASSURANCE OF LEARNING EXERCISES 1. Using the financial ratios provided in Table 4.1 and following the financial statement information presented for Urban Outfitters, Inc., calculate the following ratios for Urban Outfitters for both 2016 and 2017: a. Gross profit margin b. Operating profit margin c. Net profit margin d. Times-interest-earned (or coverage) ratio e. Return on stockholders' equity f. Return on assets g. Debt-to-equity ratio h. Days of inventory i. Inventory turnover ratio j. Average collection period Based on these ratios, did Urban Outfitter's financial performance improve, weaken, or remain about the same from 2016 to 2017? Consolidated Income Statements for Urban Outfitters, Inc., 2016-2017 (in thousands, except per share data) Net sales (total revenue) Cost of sales........ Selling, general, and administrative 2016 2017 $3,545,794 $3,445,134 2,301,181 2,243,232 906,086 848,323 connect LO 4-1 (continued)