b) As controller of Tallman Company, you are responsible for keeping the board of directors informed about the company's financial activities. At the recent board meeting, you presented the following financial data: 2016 2015 2014 2016 2015 2014 Sales trend 247.0% 135.0% 100.0% Accounts recevable 7.0 times 7,7 times 8.5 times percent turnover Selling expenses 10.1% 14.0% 15.6% Total asset turnover 2.9 times 2.9 times 3.3 times to net sales Sales to plant 3.8 to 1 3.6 to 1 3.3 to 1 Return on total assets 9.1% 9.7% 10.4% assets Current ratio 2.9 to 1 2.7 to 1 2.4 to 1 Return on 9.75% 11.50% 12.25% stockholders' equity Add-test ratlo 1.1 to 1 1 .4 to 1 1.5 to 1 Profit margin. . 3.6% 3.8% 4.0% Merchandise 7.8 times 9.0 times 10.2 times Inventory turnover After the meeting, the company's CEO held a press conference with analysts in which she mentions the following ratios: 2016 2015 2014 2016 2015 2014 Sales trend percent 147.0%. 135.0% 100.0% Sales to 3.8 to 1 3.6 to 1 3.3 to 1 plant assets . Selling expenses to 10.1% 14.0% 15.6% Current" 2.9 to 1 2.7 to 1 2.4 to 1 net sales .2 ratio Required a). Why do you think the CEO decided to report these 4 ratios instead of the 11 ratios that you prepared? (10 marks) b). Comment on the possible consequences of the CEO's reporting decision. (7 marks)