Choice Hotels (2017/2016)-1 Percent change from 2016 to Ratios 2017 2016 Current ratio Asset turnover ratio Working capital 1.37 1.09 108436.00 3.23 1.08 81205.00 0.58 0.00 current ratio current assets /current liabilities total asset turnover ratio total revenue total assets working capital- current assets current liabilities tions from Choice Hotels: Note: Use the ratios in your answers, and explain what the ratios mean. Based on your calculations of current ratio and total-asset turnover ratio, what would you recommend we do to improve our asset management? 2. We would like to improve the use of our working capital. Based on your ratio calculations. What are your specific recommen dations? Please note that the current liability for deferred revenue consists primarily of amounts owed to customers in Loyalty programs. This will limit what can be done to increase working capital. See below: 3. Based on the ratios you calculated above, would you invest in our company? Why or why not? Deferred Revenue December 31 2017 2016 in thousands] 127,921 115,851 9,352 7,668 347 Loyalty programs Initial, relicensing and franchise fees 8,905 Procurement services fees 3,939 Other 346 Total 141,111 133,218