Stepfall Ltd had the following ratios at 31 December 2017 and 31 December 2016: 2017 2016 Gross profit margin 27% 31% Return on capital employed 15% 22% Current ratio 1.1:1 0.7:1 Acid test ratio 0.8:1 0.6:1 Trade receivable days 33 days 48 days Inventory holding days 42 days 57 days Which ONE of the following statements is TRUE?

a)	The companys profitability, working capital management and liquidity have improved.

b) The companys profitability and working capital management have deteriorated but liquidity has improved

c)	The companys profitability, working capital management and liquidity have deteriorated.

d) The companys profitability has deteriorated, but working capital management and liquidity have improved.