The choice is shown below:

Consider the trends of sales, gross profit, and net income.

The sales (decrease/increase/did not change) , the gross profit (drop/rose/stay the same) , and the net income (increased/slid to a net loss/stayed the same).

The gross profit percentage (dropped/rose/did not change) significantly while the rate of inventory turnover (deteriorated/improved/stayed the same).

This suggests that Shirlie's Beauty Products had to (discount/overprice) its merchandise more and more just to sell the goods. The end result was a (net incomeet losso change) in 2017.

Selling expenses (decreased/increased/did not change) significantly, which suggests that Shirlie's Beauty Products had to advertise (heavily/lightly/moderately) in order to sell its inventory.

Shirlie's Beauty Products Ltd. reported the figures below at December 31, 2017, 2016, and 2015. The business has declared bankruptcy. You have been asked to review the business and explain why it failed i (Click the icon to view financlal information.) Requirement Evaluate the trend of Shirlie's Beauty Products's results of operations during 2015 through 2017. Consider the trends of sales, gross profit, and net income. Track the gross profit percentage (to three decimal places) and the rate of inventory urnover (to one decimal place) in each year-2015, 2016 and 2017. Also, discuss the role that selling expenses must have played in Shirlie's Beauty Products's difficulties First, let's calculate Shirlie's gross profit and gross profit percentage. (Enter the gross profit percentage as a decimal rounded to three decimal places. Enter all other values one decimal place.) Dollars in thousands 2017 2016 2015 Sales Cost of sales Gross profit Gross profit percentage Consider the trends sales, gross profit, and net income. the gross profit and the net income The sales Now calculate the rate of inventory turnover. (Round the average calculation to two decimal places. Round your answer to one decimal place.) 2017 2016 2015 Inventory turnover significantly while the rate of inventory turnover .This suggests that Shirlie's Beauty Products had to its merchandise more and more just to sell the goods. The end The gross profit percentage in 2017 result was a in order to sell its inventory Selling expenses significantly, which suggests that Shirlie's Beauty Products had to advertise Financial information Shirlie's Beauty Products Ltd. Statement of Income For the Years Ended December 31, 2017, 2016, and 2015 Thousands 2017 2016 2015 42.0 $ $ 39.9$ 36.7 Sales... Cost of sales. .. 34.0 31.7 28.9 Selling.expenses 7.7 6.7 6.6 0.4 1.0 0.8 Other. expenses $ 0.5 $ (0.1) $ 0.4 Net incame (net lass).... Additional data: $ 8.7 $ 9.0 $ Ending inventory 7.6 Beginning inventory in 2015 was $6,600 Print Done