Evaluating Firm Liquidity, Solvency, Profitability and Free Cash Flow: IFRS Financial Statements The 2017 financial statements of LVMH Moet Hennessey-Louis Vuitton S.A. are presented in Appendix C at the end of this book. LVMH is a Paris-based holding company and one of the world's largest and best-known luxury goods companies. As a member of the European Union, French companies are required to prepare their consolidated (group) financial statements using International Financial Reporting Standards (IFRS). Using this financial data, calculate the company's (a) return on sales ratio using net profit, group share, (b) current ratio, (c) debt-to-total- assets ratio, and (d) free cash flow for 2016 and 2017. Comment on the trend in LVMH's liquidity, solvency, profitability, and free cash flow from 2016 to 2017.