Please calculate the Gross profit percentage, current ratio, debt-to-equity ratio, and earnings per share for Columbia Sportswear Company. Using the ratios, evaluate the financial statements from Columbia Sportswear Company. What does each of your four ratios indicate about the financial performance of the company? Based on your financial analysis: would you invest in this company? Why or why not? Adjustments to reconcile net income to net cash provided by operating activities:Loss on disposal or impairment of property, plant, and equipmentA-4Appendix A Columbia Sportswear CompanyAppendix A Columbia Sportswear CompanyCOLUMBIA SPORTSWEAR COMPANYA-5COLUMBIA SPORTSWEAR COMPANY TATEJA ONCONSOLIDATED STATEMENTS OF CASH FLOWSCONSOLIDATED STATEMENTS OF OPERATIONS(In thousands, except per share amounts)(In thousands)Year Ended December 31,201620172015Year Ended December 31.2,377,0452$Net income20172,466,1052,326,18020162015Net sales1,306,1431,266,6971,252,680Depreciation and amortizationCost of sales1,159,9621,110,3481,073,500112,315198,439Gross profit910,894864,084831,971179,851Selling, general and administrative expenses13,90110,244Deferred income taxes8,19259,945Stock-based compensationExcess tax benefit from employee stock plansChanges in operating assets and liabilities:60,016Net licensing income262,969256,508249,7211,92756,521Income from operations4,5152,0034,8055,0981,531(1,099)(2,834)44,851Interest income, net(429)(1,041)(19,178)(11,709)11,28610,986Interest expense on note payable to related party (Note 21)Other non-operating expense(321)(572)Accounts receivable11,672Inventories(7,873)266,734256,898247,319Income before income tax(154,419)(58,459)(67,468)Prepaid expenses and other current assets(24,197)36,710(40,419)Income tax expense (Note 10)Other assets46,662112,315198,439179,851(18,777)(103,296)Net income7,1926,541Accounts payable(19,241)5,514(5,452)4,411Net income attributable to non-controlling interest2$105,1232$191,8982$174,337Accrued liabilities931(5,948)(2,524)Net income attributable to Columbia Sportswear Company30,568Income taxes payable1,48311,418Earnings per share attributable to Columbia Sportswear Company (Note 16):11,581241.512.75Other liabilities4,847(2,017)2.48Basic58,702Net cash provided by operating activities4,7681.492.722.45(10,994)Diluted5,798Cash flows from investing activities:2,4684,966Weighted average shares outstanding (Note 16):341,128275,16795,10569,75969,68370,162BasicPurchases of short-term investmentsDiluted70,45370,63271,064Sales of short-term investments(130,993)(21,263)(38,208)Capital expendituresProceeds from sale of property, plant, and equipment36,28221,26364,980See accompanying notes to consolidated financial statements(53,352)(49,987)(69,917)Net cash used in investing activities27997144Cash flows from financing activities:(147,784)(49,890)(43,001)Proceeds from credit facilities3,374Repayments on credit facilitiesProceeds from issuance of common stock under employee stock plans62,88553,429(3,374)(64,825)(51,479)19,94613,16717,442Tax payments related to restricted stock unit issuancesExcess tax benefit from employee stock plansRepurchase of common stockCash dividends paidPayment of related party note payable(3,662)(5,117)(4,895)7,873(35,542)(11)(70,068)(50,909)(48,122)(43,547)(14,236)Net cash used in financing activitiesNet effect of exchange rate changes on cashNet increase (decrease) in cash and cash equivalentsCash and cash equivalents, beginning of yearCash and cash equivalents, end of year(84,403)(42,023)(91,245)12,836(1,635)(4,647)121,777181,619(43,788)551,389369,770413,558673,166 $551,389 $369,770Supplemental disclosures of cash flow information:81,04570,42487,350Cash paid during the year for income taxes6851,0491,115Cash paid during the year for interest on note payable to related partySupplemental disclosures of non-cash investing activities:Capital expenditures incurred but not yet paid3,1882,7104,698See accompanying notes to consolidated financial statements

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Ratio analysis shows the company's liquidity, efficiency and profitability of the company.