TWE Enterprises Limited (a golf course operation) has been in business for a number of years now. In an effort to see how the company is doing, Tigger Weeds has asked for your help in interpreting some financial statement ratios. Tigger has been able to calculate the ratios, but is unclear on how to interpret them. Tigger's objective is to identify strengths as well as weaknesses in the company's financial position, and its overall ability to generate profits and cash flow. A summary of Tigger's ratio calculations appears below: Ratio Current Ratio Quick Ratio Inventory Turnover Days Sales Uncollected Accounts Payable Turnover Debt Ratio Times Interest Earned Gross Margin Ratio Profit Margin Ratio TWE Enterprises Limited Current Year Prior Year 1.85 2.10 0.92 1.05 9.89 13.14 45 29 12.9 11.4 55% 49% 2.49 4.95 42% 39% 9% 5% 3. My inventory consists of food & beverages which are sold in the clubhouse restaurant as well as items that we carry in the golf shop (such as shoes, golf clubs, golf bags, and apparel that are available to the public for purchase). What does the decline in my inventory turnover indicate? (Hint: Calculate any related ratio not listed in Tigger's table that may help analyze the situation and explain the business issues that should be brought to Tigger's attention.) [6 marks]