Problem 2: (This problem is similar to Textbook problem 3.11 pg78) (15 pts) ABC Corporation's consolidated income statements and balance sheet for the years 2016 and 2017 is shown below (in thousands of dollars). (Assume 52 weeks/year) Selected Income Statement and Balance Sheet Figures for ABC Corporation Net Sales Cost of Goods Sold Current Assets 2016 $410,625 $306,420 2017 $535,744 $485,980 Cash Inventories Accounts Receivable $82,491 35,790 $21,157 54,079 $84,360 $52,785 table: 2016 2017 Length of time in weeks of Factory Process (Flow Time) Length of time in weeks of the Accounts Receivable Process Cost to Cash Flow Time in Weeks From an operations standpoint, do you think that 2017 is an improvement over 2016? Wh