The following financial data are adapted from the annual reports of Bechuram Inc.:

Bechuram Inc. Four -Year Select Financial Data Years Ended January 31, 2017, 2016, 2015,2014

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

76

75

76

77

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

Compute the following ratios for 2015 through 2017 and evaluate Bechurams 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

f. Return on assets

g. Leverage ratio

h. Return on shareholders equity

i. Times-interest-earned ratio

j. Earnings per share