Please help answer questions 4-7 briefly

	2017	2016
Total Revenue	35,45,794	34,45,134	Assumptions Below
Cost of sales	23,01,181	22,43,232
Gross Profit	12,44,613	12,01,902
Gross Profit Margin = Gross Profit/Revenue *100	35.10%	34.89%
Operating Income	3,38,527	3,53,579
Revenue	35,45,794	34,45,134
Operating Profit Margin = Operating income/Revenue *100	9.55%	10.26%
Net Profit	218120	224489
Revenue	35,45,794	34,45,134
Net Profit Margin = Net profit/Revenue *100	6.15%	6.52%
Operating Income	3,38,527	3,53,579	Normally Coverage ratio is EBIT/Interest expense. In the given statement, Interest expense is not given. Hence the calculation done like this
Other expenses	-4,587	-5,449
Income before Interest and Tax	3,33,940	3,48,130
Interest	4,159	1,901
Time Interest Earned Ratio = Income before Interest and Tax/Interest	80.29	183.13
Net Income	218120	224489
Equity	13,13,084	11,37,227
Retun on shareholders equity = Net Income/Equity	16.61%	19.74%
Net Income	338527	353579
Total Assets	19,02,637	18,33,301
Return on Assets = Net Income/Assets	17.79%	19.29%
Total Liabilities =	589,553	696,074
Equity	13,13,084	11,37,227
Debt to equity ratio = Total liabilities/Equity	0.45	0.61
Inventory	3,38,590	3,30,223	The formula requires the Average Inventory. But since we do not have data of 2015, we have taken closing inventory here
Cost of sales	23,01,181	22,43,232
Days of inventory = Inventory * 365 / cost of sales	53.71	53.73
Cost of sales	23,01,181	22,43,232	The formula requires the Average Inventory. But since we do not have data of 2015, we have taken closing inventory here
Inventory	3,38,590	3,30,223
Inventory turnover ratio = Cost of sales/Inventory	6.80	6.79
Receivables	54,505	75,723	The formula requires Average Receivables. But since we do not have data of 2015, we have taken closing inventory here. Also, the formula requires credit sales. So we have assumed that the sales are all credit sales
Sales Revenue	35,45,794	34,45,134
Average collection period: Receivables / Sales *365	5.61	8.02

4. Analyze and discuss the trend in the debt-to-equity ratio

5. Analyze and discuss the trend In the times-interest-earned (or coverage) ratio

6. Analyze and discuss the trend in the turnover ratios (days of inventory and inventory turnover

7. Analyze and discuss the trend in the average collection period

1. Using the financial ratios provided in Table 4.1 and following the financial statement information presented for Urban Outfitters, Inc., calculate the following ratios for Urban Outfitters for both 2016 and 2017: a. Gross profit margin b. Operating profit margin c. Net profit margin d. Times-interest-earned (or coverage ratio e. Return on stockholders' equity f. Return on assets g. Debt-to-equity ratio h. Days of inventory i. Inventory turnover ratio j. Average collection period Based on these ratios, did Urban Outfitter's financial performance improve, weaken, or remain about the same from 2016 to 2017? Consolidated Income Statements for Urban Outfitters, Inc., 2016-2017 (in thousands, except per share data) 2017 2016 Net sales (total revenue) $3,545,794 $3,445,134 Cost of sales 2,301,181 2,243.232 Selling, general, and administrative 906,086 848,323 Operating income 338,527 353,579 Other income (expense) Other expenses (4,587) (5,449) Interest income and other, net 4159 1901 Income before income taxes 338,099 350,031 Provision for income taxes 119,979 125,542 Net income $218,120 $224,489 Basic earnings per share $ 1.87 S 1.79 Diluted earnings per share $ 1.86 $ 1.78 Source: Urban Outfitters, Inc., 2017. Assets Current Assets Cash and cash equivalents $ 248,140 $ 248,140 Short-term investments 111,067 61,061 Receivables, net 54,505 75,723 Merchandise inventories 338,590 330,223 Prepaid expenses and other current assets 129,095 102.078 Total current assets 881,397 834,361 Net property and equipment 867,786 863,137 Deferred income taxes and Other assets 153,454 135,803 Total assets $1,902,637 $1,833,301 Liabilities and Shareholders' Equity Current Liabilities Accounts payable $ 119,537 $ 118,035 Accrued salaries and benefits 58,782 41,474 Accrued expenses and Other current liabilities 174,609 169,722 Total current liabilities 352,928 329,231 Long-term debt 0 150,000 Deferred rent and other liabilities 236,625 216,843 Total liabilities 589,553 696,074 Commitments and Contingencies Equity Preferred stock $0.001 par value; 10,000,000 shares authorized; no shares issued and outstanding 0 0 12 12 Common stock $0.001 par value; 200,000,000 shares authorized; 116,233,781 and 117,321,120 shares issued and outstanding Additional paid-in capital $ 0 $ 0 Retained earnings 1,347,141 1,160,666 Total stockholders' equity 1,313,084 1,137,227 Total Liabilities and Equity $1,902,637 $1,833,301