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Review the comparative consolidated balance sheets of LVMIH Group as of the end of 2017, 2016, and 2015 as shown in the chapter in International Comparative Balance Sheets: LVMH. LVMH prepared these balance sheets using IFRS, and all amounts are expressed in millions of euros. Required: Answer the following questions pertaining to LVMH Group's balance sheets. a. What was the amount of the current assets and current liabilities at the end of 2017 and 2016 ? b. What was the current ratio at the end of 2017 and 2016? Did LVMH's liquidity increase or decrease in 2017? c. What was the single largest current asset and current liability? d. How much has LVMH borrowed in short-and long term debt as of the end of 2017? Did these borrowings increase or decrease in 2017? e. What is the total amount of liabilities as of the end of 2017 and 2016 ? f. What was the total amount of equity as of the end of 2017 and 2016? g. What was the debt-to-equity ratio as of the end of 2017 and 2016? How did LVMH's leverage change in 2017? h. What was the inventory turnover rate in 2017? What was the average number of days for inventory turnover in 2017? Does the number of days for inventory turnover for LVMH seem long or short? If so, what aspect of LVMH's business strategy might explain the length of time it takes to tum over inventory? (Note: LVMH recognized 14,783 million in cost of sales in 2017.) i. Are LVMH's noncurrent assets at the end of 2017 primarily tangible, intangible, or financial in nature? j. What was the amount in investments in joint ventures and associates at the end of 2017? k. What was the amount of minority interest in equity at the end of 2017? 1. Given your answers to questions 9 and 10 , when IVMH has less than 100% ownership in another CONSOLIDATED BALANCE SHEET UABILTIES AND EQUITY

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