P6-6 Analyzing inventories QLO 6-7) Danaher Corporation manufactures a variety of products, including electronic measurement instruments and network communications products, water quality measurement systems, and medical and dental instruments. Selected financial statement data and related performance indicators follow. Danaher Corporation ($ in millions) 2016 2017 2018 Sales $16,882.4 $18,329.7 $19.893.0 Cost of goods sold 7.547.8 8.137.2 8.875.9 Average inventory 1,641.3 1,775.1 1.875.5 Source: Danaher Corporation Form 10-Ks for 2016-2018, cxcept for average inventory, which is computed from amounts in the 10-Ks for 2015-2018. Required: 1. Compute Danaher's year-over-year sales growth rates for 2017 and 2018. 2. Compute Danaher's gross profit percentage for each of the three years presented. 3. Compute Danaher's inventory turnover ratios for each of the three years presented. 4. Comment on the company's year-to-year performance comparisons