Consider the trends of sales, gross profit, and net income. The sales (Increased - Decreased- Did not change), the gross profit (dropped- rose- stayed the same), and the net income (increased, slid to a net loss, stayed the same). The gross profit percentage (Dropped - Rose- Did Not Change), significantly while the rate of inventory turnover (Deteriorated - Improved - Stayed the same) . This suggests that Kelley 's Beauty Products had to (discount-overprice) its merchandise more and more just to sell the goods. The end result was a (net income- net loss- no change) in 2017. Selling expenses (decreased-increased-did not change) significantly, which suggests that Kelley 's Beauty Products had to advertise (heavily, lightly, moderately) in order to sell its inventory.

Kole s Beauty Products Ltd re o ed the 03 below at December 31. 2017, 2016 and 2015. The business hes decared bankruptcy. You have been asked to eve a the business and explain my t tied. (Click tho lcon to vlew financlal Information.) Requiremont Evaluate the trend of Kelley's Beauty Products's results of operatons during 2015 through 2017, Consider the trends of sales, gross profit, and net income. Track the gross profit percentage (to three decimal places) and the rate of inventory tumover (to one decimal place) in each year 2015, 2016 and 2017. Aso, dscuss the role that seling expenses must have played in Keley's Beauty Products's cimicuibes First let's ca culabe Keley's gross protit and groas profa percentage. (Enter the gross profit percentage as a decimal rounded to three decimal places. Enter all other values to one decimal place.) Dollars in thousands Sales 2017 2016 2015 of eales Gross profit Gross profit percentage Consder the trends of sales, gross profit, and net income The sa 08 Now calculate the rate of inventory tunover. (Round the average calculation to two decimal places. Round your answer to one decimal place.) T the gross prost , and the net income 2017 2016 2015 Inventory turnover The gross profit percentage Seling expenses gnicantly whle the rate of inventory turmover . This suggests that Keleys Beauty Products had to ts merchandise more and more juet to sel the gocds. The end rosult was a | in 2017 significanty, which suggests that Keley's Beauty Products had to advertise in order to sel its inventory