Operating Results 2017 2016 2015 2014 Net Sales $13,848 $13,673 $11,635 $9,054 COGS (excluding depreciation and amortization) 9704 8599 6775 5318 Interest Expense 109 75 45 46 Income from Operations 338 1445 1817 1333 Net Earnings 8 877 1127 824 Cash Dividends 75 76 Financial Position: Merchandise Inventory 1677 1904 1462 1056 Total Assets 7591 7012 5189 3963 Current Ratio 1.48:1 0.95:1 1.25:1 1.20:1 Shareholders' Equity 3010 2928 2630 1574 Average number of shares of common stock outstanding (in thousands) 860 879 895 576 76 Compute the following ratios for 2015 through 2017 and evaluate Bechuram's operating results. Are operating results strong or weak? Did they improve or deteriorate during the three-year period? Your analysis will reveal a clear trend. a. Inventory turnover (assume occupancy expenses are included in cost of goods sold) b. Gross profit percentage c. Operating income (profit) percentage d. Return on sales e Asset turnover