Use the following information to answer the questions below:
	note: all sales are credit sales
	Income Stmt info:	2016	2017
	Sales	$ 975,000	$ 1,072,500
	less Cost of Goods Sold:	325,000	346,125
	Gross Profit	650,000	726,375
	Operating Expenses	575,000	609,500
	Earnings before Interest & Taxes	75,000	116,875
	Interest exp	25,000	31,000
	earnings before Taxes	50,000	85,875
	Taxes	20,000	34,350
	Net Income	$ 30,000	$ 51,525
	Balance Sheet info:	12/31/2016	12/31/2017
	Cash	60,000	$ 63,600
	Accounts Receivable	80,000	$ 84,000
	Inventory	110,000	$ 126,500
	Total Current Assets	$ 250,000	$ 274,100
	Fixed Assets (Net)	$ 300,000	$ 312,000
	Total Assets	$ 550,000	$ 586,100
	Current Liabilities	$ 130,000	$ 149,500
	Long Term Liabilities	$ 150,000	$ 170,000
	Total Liabilities	$ 280,000	$ 319,500
	Stockholder's Equity	$ 270,000	$ 266,600
	Total Liab & Equity:	$ 550,000	$ 586,100

Compute each of the following ratios for 2016 and 2017 and
indicate whether each ratio was getting "better" or "worse" from 2016 to 2017
and whether the 2017 ratio was "good" or "bad" compared to the Industry Avg
(round all numbers to 2 digits past the decimal place)

	2016	2017	Getting Better or Getting Worse?	2017 Industry Avg	"Good" or "Bad" compared to Industry Avg
Profit Margin				0.09
Current Ratio				1.80
Quick Ratio				1.12
Return on Assets				0.18
Debt to Assets				0.60
Receivables turnover				12.00
Avg. collection period*				22.10
Inventory Turnover**				8.25
Return on Equity				0.16
Times Interest Earned				8.15
*Assume a 360 day year
**Inventory Turnover can be computed 2 different ways. Use the formula listed in the text
(the one the text indicates many credit reporting agencies generally use)