You are interviewing for a business position at a Fortune 500 company. Your resume is screened from the hundreds received and you advance to the interview process. You learn that in addition to the oral interview you will be required to analyze the following financial data and answer the six questions posed. The data is taken from a small merchandiser of sports equipment. 2016 2018 137.0% 9.8% 2017 125.0% 13.7% 100.0% 15.3% 3.5 to 1 Sales trends percent Selling expenses to sales Sales to plant assets Current ratio Acid-test ratio Merchandise inventory turnover 3.3 to 1 2.4 to 1 3.0 to 1 2.1 to 1 2.6 to 1 0.8 to 1 1.2 to 1 1.1 to 1 8.7 times 7.5 times 6.7 times 9.9 times 8.2 times Accounts receivable turnover 7.4 times Total asset turnover 2.6 times 2.6 times 3.0 times Return on total assets 8.8% 9.4% 11.1% 9.75% 11.50% 12.25% Return on equity Profit margin ratio 3.3% 3.5% 3.7% Required: Use the data above to answer the following questions with explanations. 1. Is it becoming easier for the company to meet its current liabilities on time and to take advantage of any cash discounts? Explain. 2. Is the company collecting its accounts receivable more rapidly? Explain. 3. Is the company's investment in accounts receivable decreasing? Explain. 4. Is the company's investment in plant assets increasing? Explain. 5. Is the owner's investment becoming more profitable? Explain. 6. Did the dollar amount of selling expenses increase during the three-year period? Explain