1. Compare the company's asset management efficiency ratios in 2019 to those in the previous years as well as to the industry's ratios in 2019. If anything, what needs to be done to asset management to improve its asset management efficiency?

2017 2018 2019 Return on Equity (ROE) (%) = 27.3% 17.2% 8.8% Overall return on investment ratios (alternative to ROE) ROA (%) 8.0% ROIC (%) 11.6% 5.8% 12.9% 2.7% 6.5% Cost management efficiency ratios Profit margin (%) Gross margin (%) Operating margin (%) 6.2% 43.0% 37.4% 4.3% 44.6% 38.9% 2.2% 44.0% 40.3% 1 Asset management efficiency ratios Asset turnover (times) Fixed asset turnover (times) Inventory turnover (times) Inventory days (days) Acct. receivable days (days) Acct. payable days (days) Operating cycle (days) Cash conversion cycle (days) Days' sales in cash (days) 1.3 3.7 2.7 133.5 5.3 59.9 138.8 78.9 1.3 3.9 2.7 134.8 5.7 67.6 140.5 72.9 1.2 2.7 2.7 133.4 5.9 68.4 139.3 70.9 Financing efficiency ratios Assets-to-equity (times) Debt to assets (%) Debt to equity (%) Times interest earned (times) Current ratio (times) Quick ratio (times) 70.8% 242.4% 4.2 1.5 0.4 66.5% 198.2% 5.5 1.4 0.4 69.9% 232.0% 4.4 1.2 0.3