2019 2018 2017 Sales trend percents 137.0% 125.0% 100.0% Selling expenses to sales 9.8% 13.7% 15.3% Sales to plant assets ratio 3.5 to 1 3.3 to 1 3.0 to 1 Current ratio 2.6 to 1 2.4 to 1 2.1 to 1 Acid-test ratio 0.8 to 1 1.1 to 1 1.2 to 1 Merchandise inventory turnover 7.5 times 8.7 times 9.9 times Accounts receivable turnover 6.7 times 7.4 times 8.2 times Total asset turnover 2.6 times 2.6 times 3.0 times Return on total assets 8.8% 9.4% 11.1% Return on equity 9.75% 11.50% 12.25% Profit margin ratio 3.3% 3.5% 3.7% Required Use these data to answer each of 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 available 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 decrease during the three-year period? Explain
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