during 2018 , several segments of the recreational boating industry improved due to a stable consumer confidence and financing environment for dealers and consumers , although aggregate sales of the boating segments in which marine products operates were approximately equal to sales during 2017. overall industry retail sales of outboard recreational boats in 2018 were equal to sales in 2017 , and sterndrive unit sales continued to decline . our net sales improved in 2018 compared to 2017 due to a favorable model mix which yielded higher average selling prices . unit sales in 2018 increased by less than one percent compared to 2017. management will continue to monitor retail demand among the various segments in the recreational boat market , the actions of our competitors , dealer inventory levels and the availability of dealer and consumer financing for the purchase of our products and adjust our production levels as deemed appropriate . we periodically monitor our market share in the 19 to 34 foot sterndrive category as one indicator of the success of our strategies and the market 's acceptance of our products . for the 12 month period ended september 30 , 2018 ( latest data available to us ) , chaparral 's market share in the 19 to 34 foot sterndrive category was 16.1 percent compared to 16.8 percent during the same period in 2017 ; the highest market share in this category during both periods . for the 12 month period ended september 30 , 2018 , robalo 's share of the 16 to 31 foot outboard sport fishing boat market was 6.2 percent , the second highest market share within this category . marine products corporation 's share of the outboard recreational market , including both robalo and chaparral 's outboard units , was 7.1 percent of the total market within its size range for the 12 months ended september 30 , 2018. the company held the third highest share among manufacturers of various outboard brands during the period . we will continue to monitor our market share and believe it to be important , but we believe that maximizing profitability takes precedence over growing our market share . furthermore , as we continue to expand the breadth of our product offerings within our core category and new categories , we consider our overall market share across the various powerboat categories to be of greater importance to the long-term health of our company than our market share within any specific type of recreational boat . 20 outlook we believe that recreational boating retail demand in many segments of the industry will remain stable during 2019. positive factors influencing recreational boat demand include strong consumer confidence and a robust u.s. employment market , as well as a favorable financing environment for boat dealers and consumers . these positive factors are offset by potential weakness in residential real estate markets , the negative impact of recent stock market fluctuations , and slightly higher interest rates . these weaknesses may have impacted attendance at the 2019 retail boat shows , which has been slightly lower in 2019 than in 2018. although industry wide retail boat sales remain lower than they were prior to the 2008 financial crisis , retail boat sales have increased each year since 2012. fluctuations in fuel prices can impact our industry , although they were relatively stable in 2018 and we do not believe that they have recently impacted sales . in general , the overall cost of boat ownership has increased , especially in the sterndrive recreational boat market segment , which comprises approximately 38 percent of the company 's unit sales . the higher cost of boat ownership discourages consumers from purchasing recreational boats . for a number of years , marine products as well as other boat manufacturers have been improving their customer service capabilities , marketing strategies and sales promotions in order to attract more consumers to recreational boating as well as improve consumers ' boating experiences . the company provides financial incentives to its dealers for receiving favorable customer satisfaction surveys . in addition , the recreational boating industry conducts a promotional program which involves advertising and consumer targeting efforts , as well as other activities designed to increase the potential consumer market for pleasure boats . many manufacturers , including marine products , participate in this program . management believes that these efforts have incrementally benefited the industry and marine products . as in past years , marine products enhanced its selection of models for the 2019 model year which began on july 1 , 2018. we continue to emphasize the surf series line of chaparral models , our larger chaparral ssx models , and our larger robalo models . we believe that these boat models will expand our customer base , and leverage our strong dealer network and reputation for quality and styling . during 2018 we expanded our nationally advertised fixed retail pricing to include more of our models . we plan to continue to develop and produce additional new products for subsequent model years . marine products expects to benefit from the tax cuts and jobs act ( “ tax reform ” ) enacted during the fourth quarter of 2017. marine products estimates that its annual effective tax rate for 2019 will be in the low 20 percent range . since marine products believes that it will generate continued positive financial results , the company believes that it will benefit from this lower tax rate through increased earnings in 2019. our financial results for 2019 will depend on a number of factors , including interest rates , consumer confidence , the availability of credit to our dealers and consumers , fuel costs , the continued acceptance of our new products in the recreational boating market , our ability to compete in the competitive pleasure boating industry , the availability of labor and certain costs of our raw materials and key components . story_separator_special_tag while we focus on high quality manufacturing programs and processes , including actively monitoring the quality of our component suppliers and managing the dealer and customer service warranty experience and reimbursements , our estimated warranty obligation is based upon the warranty terms and the company 's enforcement of those terms over time , manufacturing defects or issues , repair costs , and the volume and mix of boat sales . the estimate of warranty costs is regularly analyzed and is adjusted based on several factors including the actual claims that occur . warranty expense as a percentage of net sales was 1.4 percent in 2018 , 1.3 percent in 2017 , and 1.7 percent in 2016. a 0.10 percentage point increase in the estimated warranty expense as a percentage of net sales during 2018 would have increased selling , general and administrative expenses and reduced operating income by approximately $ 0.3 million . income taxes - the effective income tax rate was 20.1 percent in 2018 , 35.6 percent in 2017 , and 28.5 percent in 2016. the effective tax rates vary due to changes in estimates of future taxable income , fluctuations in the tax jurisdictions in which the earnings and deductions are realized , variations in the relationship of tax-exempt income or losses to income before taxes and favorable or unfavorable adjustments to estimated tax liabilities related to proposed or probable assessments . as a result , the effective tax rate may fluctuate significantly on a quarterly or annual basis . the effective tax rate for 2018 reflects the change in federal income tax rates from 35 % to 21 % , as enacted by the tax cuts and jobs act ( tcja ) , as well as other beneficial adjustments . the company establishes a valuation allowance against the carrying value of deferred tax assets when it is determined that it is more likely than not that the asset will not be realized through future taxable income . such amounts are charged to earnings in the period the determination is made . likewise , if it is later determined that it is more likely than not that the net deferred tax assets would be realized , the applicable portion of the previously provided valuation allowance is reversed . the company considers future market growth , forecasted earnings , future taxable income , the mix of earnings in the jurisdictions in which the company operates , and prudent and feasible tax planning strategies in determining the need for a valuation allowance . the company calculates the current and deferred tax provision based on estimates and assumptions that could differ from the actual results reflected in income tax returns filed during the subsequent year . adjustments based on filed tax returns are recorded when identified , which is generally in the third quarter of the subsequent year for u.s. federal and state provisions . deferred tax liabilities and assets are determined based on the differences between the financial and tax bases of assets and liabilities using enacted tax rates in effect in the year the differences are expected to reverse . in 2017 , the company revalued its deferred tax assets and liabilities to reflect the change in federal income tax rates , as enacted by the tcja . 26 the amount of income taxes the company pays is subject to ongoing audits by federal and state tax authorities , which often result in proposed assessments . our estimate for the potential outcome for any uncertain tax issue is highly judgmental . the company believes it has adequately provided for any reasonably foreseeable outcome related to these matters . however , future results may include favorable or unfavorable adjustments to estimated tax liabilities in the period the assessments are made or resolved or when statutes of limitation on potential assessments expire . additionally , the jurisdictions in which earnings or deductions are realized may differ from current estimates . impact of recent accounting pronouncements : during the year ended december 31 , 2018 , the financial accounting standards board ( fasb ) issued the following accounting standards updates ( asus ) : recently adopted accounting pronouncements : · accounting standards update ( asu ) no . 2014-09 , revenue from contacts with customers ( topic 606 ) - on january 1 , 2018 , the company adopted asc 606 , revenue from contracts with customers and all the related amendments ( “ new revenue standard ” ) for all contracts using the modified retrospective method , with no cumulative-effect adjustment to retained earnings upon adoption . the comparative information has not been restated and continues to be reported under the accounting standards that were in effect for those periods . the adoption of the new revenue standard did not have a material impact on our consolidated financial statements . see note 2 net sales in the notes to consolidated financial statements for expanded disclosures . · asu no . 2016-01 , financial instruments – overall ( subtopic 825-10 ) : recognition and measurement of financial assets and financial liabilities . the amendments make targeted improvements to existing u.s. gaap and affects accounting for equity investments and financial instruments and liabilities and related disclosures . the company adopted these provisions in the first quarter of 2018 and the adoption did not have a material impact on its consolidated financial statements . · asu no . 2016-15 , statement of cash flows ( topic 230 ) : classification of certain cash receipts and cash payments . the amendments provide guidance in the presentation and classification of certain cash receipts and cash payments in the statement of cash flows including debt prepayment or debt extinguishment costs , contingent consideration payments made after a business combination , proceeds from the settlement of insurance claims , proceeds from the settlement of corporate-owned life insurance policies , and distributions received from equity method investees . the company adopted these provisions in the first quarter of

cash and cash flows the company 's cash and cash equivalents were $ 8.7 million at december 31 , 2018 , $ 7.7 million at december 31 , 2017 and $ 2.6 million at december 31 , 2016. in addition , the aggregate of short-term and long-term marketable securities was $ 7.7 million at december 31 , 2018 , $ 13.0 million at december 31 , 2017 and $ 9.3 million at december 31 , 2016. the following table sets forth the historical cash flows for the twelve months ended december 31 : replace_table_token_4_th 2018 cash provided by operating activities decreased by $ 6.9 million in 2018 compared to 2017. this decrease was primarily due to a net unfavorable change in working capital partially offset by an increase in net income . the major components of the net unfavorable change in working capital were as follows : an unfavorable change in other accrued expenses of $ 2.3 million due primarily to a decrease in accrued sales discounts ; an unfavorable change of $ 13.2 million in inventories primarily due to the timing of inventory purchases of key components and the timing of finished boats shipments ; and a $ 1.1 million favorable change in accounts receivable due to the timing of payments . cash provided by investing activities was $ 3.1 million in 2018 compared to $ 6.5 million used for investing activities in 2017. the increase in cash provided by investing activities in 2018 is primarily due to net sales of marketable securities coupled with a decrease in capital expenditures . cash used for financing activities increased $ 6.7 million in 2018 primarily due to an increase in cash paid for open market share repurchases , coupled with an increase in regular and special cash dividends paid during 2018 .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```cash and cash flows the company 's cash and cash equivalents were $ 8.7 million at december 31 , 2018 , $ 7.7 million at december 31 , 2017 and $ 2.6 million at december 31 , 2016. in addition , the aggregate of short-term and long-term marketable securities was $ 7.7 million at december 31 , 2018 , $ 13.0 million at december 31 , 2017 and $ 9.3 million at december 31 , 2016. the following table sets forth the historical cash flows for the twelve months ended december 31 : replace_table_token_4_th 2018 cash provided by operating activities decreased by $ 6.9 million in 2018 compared to 2017. this decrease was primarily due to a net unfavorable change in working capital partially offset by an increase in net income . the major components of the net unfavorable change in working capital were as follows : an unfavorable change in other accrued expenses of $ 2.3 million due primarily to a decrease in accrued sales discounts ; an unfavorable change of $ 13.2 million in inventories primarily due to the timing of inventory purchases of key components and the timing of finished boats shipments ; and a $ 1.1 million favorable change in accounts receivable due to the timing of payments . cash provided by investing activities was $ 3.1 million in 2018 compared to $ 6.5 million used for investing activities in 2017. the increase in cash provided by investing activities in 2018 is primarily due to net sales of marketable securities coupled with a decrease in capital expenditures . cash used for financing activities increased $ 6.7 million in 2018 primarily due to an increase in cash paid for open market share repurchases , coupled with an increase in regular and special cash dividends paid during 2018 .
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 Suspicious Activity Report : during 2018 , several segments of the recreational boating industry improved due to a stable consumer confidence and financing environment for dealers and consumers , although aggregate sales of the boating segments in which marine products operates were approximately equal to sales during 2017. overall industry retail sales of outboard recreational boats in 2018 were equal to sales in 2017 , and sterndrive unit sales continued to decline . our net sales improved in 2018 compared to 2017 due to a favorable model mix which yielded higher average selling prices . unit sales in 2018 increased by less than one percent compared to 2017. management will continue to monitor retail demand among the various segments in the recreational boat market , the actions of our competitors , dealer inventory levels and the availability of dealer and consumer financing for the purchase of our products and adjust our production levels as deemed appropriate . we periodically monitor our market share in the 19 to 34 foot sterndrive category as one indicator of the success of our strategies and the market 's acceptance of our products . for the 12 month period ended september 30 , 2018 ( latest data available to us ) , chaparral 's market share in the 19 to 34 foot sterndrive category was 16.1 percent compared to 16.8 percent during the same period in 2017 ; the highest market share in this category during both periods . for the 12 month period ended september 30 , 2018 , robalo 's share of the 16 to 31 foot outboard sport fishing boat market was 6.2 percent , the second highest market share within this category . marine products corporation 's share of the outboard recreational market , including both robalo and chaparral 's outboard units , was 7.1 percent of the total market within its size range for the 12 months ended september 30 , 2018. the company held the third highest share among manufacturers of various outboard brands during the period . we will continue to monitor our market share and believe it to be important , but we believe that maximizing profitability takes precedence over growing our market share . furthermore , as we continue to expand the breadth of our product offerings within our core category and new categories , we consider our overall market share across the various powerboat categories to be of greater importance to the long-term health of our company than our market share within any specific type of recreational boat . 20 outlook we believe that recreational boating retail demand in many segments of the industry will remain stable during 2019. positive factors influencing recreational boat demand include strong consumer confidence and a robust u.s. employment market , as well as a favorable financing environment for boat dealers and consumers . these positive factors are offset by potential weakness in residential real estate markets , the negative impact of recent stock market fluctuations , and slightly higher interest rates . these weaknesses may have impacted attendance at the 2019 retail boat shows , which has been slightly lower in 2019 than in 2018. although industry wide retail boat sales remain lower than they were prior to the 2008 financial crisis , retail boat sales have increased each year since 2012. fluctuations in fuel prices can impact our industry , although they were relatively stable in 2018 and we do not believe that they have recently impacted sales . in general , the overall cost of boat ownership has increased , especially in the sterndrive recreational boat market segment , which comprises approximately 38 percent of the company 's unit sales . the higher cost of boat ownership discourages consumers from purchasing recreational boats . for a number of years , marine products as well as other boat manufacturers have been improving their customer service capabilities , marketing strategies and sales promotions in order to attract more consumers to recreational boating as well as improve consumers ' boating experiences . the company provides financial incentives to its dealers for receiving favorable customer satisfaction surveys . in addition , the recreational boating industry conducts a promotional program which involves advertising and consumer targeting efforts , as well as other activities designed to increase the potential consumer market for pleasure boats . many manufacturers , including marine products , participate in this program . management believes that these efforts have incrementally benefited the industry and marine products . as in past years , marine products enhanced its selection of models for the 2019 model year which began on july 1 , 2018. we continue to emphasize the surf series line of chaparral models , our larger chaparral ssx models , and our larger robalo models . we believe that these boat models will expand our customer base , and leverage our strong dealer network and reputation for quality and styling . during 2018 we expanded our nationally advertised fixed retail pricing to include more of our models . we plan to continue to develop and produce additional new products for subsequent model years . marine products expects to benefit from the tax cuts and jobs act ( “ tax reform ” ) enacted during the fourth quarter of 2017. marine products estimates that its annual effective tax rate for 2019 will be in the low 20 percent range . since marine products believes that it will generate continued positive financial results , the company believes that it will benefit from this lower tax rate through increased earnings in 2019. our financial results for 2019 will depend on a number of factors , including interest rates , consumer confidence , the availability of credit to our dealers and consumers , fuel costs , the continued acceptance of our new products in the recreational boating market , our ability to compete in the competitive pleasure boating industry , the availability of labor and certain costs of our raw materials and key components . story_separator_special_tag while we focus on high quality manufacturing programs and processes , including actively monitoring the quality of our component suppliers and managing the dealer and customer service warranty experience and reimbursements , our estimated warranty obligation is based upon the warranty terms and the company 's enforcement of those terms over time , manufacturing defects or issues , repair costs , and the volume and mix of boat sales . the estimate of warranty costs is regularly analyzed and is adjusted based on several factors including the actual claims that occur . warranty expense as a percentage of net sales was 1.4 percent in 2018 , 1.3 percent in 2017 , and 1.7 percent in 2016. a 0.10 percentage point increase in the estimated warranty expense as a percentage of net sales during 2018 would have increased selling , general and administrative expenses and reduced operating income by approximately $ 0.3 million . income taxes - the effective income tax rate was 20.1 percent in 2018 , 35.6 percent in 2017 , and 28.5 percent in 2016. the effective tax rates vary due to changes in estimates of future taxable income , fluctuations in the tax jurisdictions in which the earnings and deductions are realized , variations in the relationship of tax-exempt income or losses to income before taxes and favorable or unfavorable adjustments to estimated tax liabilities related to proposed or probable assessments . as a result , the effective tax rate may fluctuate significantly on a quarterly or annual basis . the effective tax rate for 2018 reflects the change in federal income tax rates from 35 % to 21 % , as enacted by the tax cuts and jobs act ( tcja ) , as well as other beneficial adjustments . the company establishes a valuation allowance against the carrying value of deferred tax assets when it is determined that it is more likely than not that the asset will not be realized through future taxable income . such amounts are charged to earnings in the period the determination is made . likewise , if it is later determined that it is more likely than not that the net deferred tax assets would be realized , the applicable portion of the previously provided valuation allowance is reversed . the company considers future market growth , forecasted earnings , future taxable income , the mix of earnings in the jurisdictions in which the company operates , and prudent and feasible tax planning strategies in determining the need for a valuation allowance . the company calculates the current and deferred tax provision based on estimates and assumptions that could differ from the actual results reflected in income tax returns filed during the subsequent year . adjustments based on filed tax returns are recorded when identified , which is generally in the third quarter of the subsequent year for u.s. federal and state provisions . deferred tax liabilities and assets are determined based on the differences between the financial and tax bases of assets and liabilities using enacted tax rates in effect in the year the differences are expected to reverse . in 2017 , the company revalued its deferred tax assets and liabilities to reflect the change in federal income tax rates , as enacted by the tcja . 26 the amount of income taxes the company pays is subject to ongoing audits by federal and state tax authorities , which often result in proposed assessments . our estimate for the potential outcome for any uncertain tax issue is highly judgmental . the company believes it has adequately provided for any reasonably foreseeable outcome related to these matters . however , future results may include favorable or unfavorable adjustments to estimated tax liabilities in the period the assessments are made or resolved or when statutes of limitation on potential assessments expire . additionally , the jurisdictions in which earnings or deductions are realized may differ from current estimates . impact of recent accounting pronouncements : during the year ended december 31 , 2018 , the financial accounting standards board ( fasb ) issued the following accounting standards updates ( asus ) : recently adopted accounting pronouncements : · accounting standards update ( asu ) no . 2014-09 , revenue from contacts with customers ( topic 606 ) - on january 1 , 2018 , the company adopted asc 606 , revenue from contracts with customers and all the related amendments ( “ new revenue standard ” ) for all contracts using the modified retrospective method , with no cumulative-effect adjustment to retained earnings upon adoption . the comparative information has not been restated and continues to be reported under the accounting standards that were in effect for those periods . the adoption of the new revenue standard did not have a material impact on our consolidated financial statements . see note 2 net sales in the notes to consolidated financial statements for expanded disclosures . · asu no . 2016-01 , financial instruments – overall ( subtopic 825-10 ) : recognition and measurement of financial assets and financial liabilities . the amendments make targeted improvements to existing u.s. gaap and affects accounting for equity investments and financial instruments and liabilities and related disclosures . the company adopted these provisions in the first quarter of 2018 and the adoption did not have a material impact on its consolidated financial statements . · asu no . 2016-15 , statement of cash flows ( topic 230 ) : classification of certain cash receipts and cash payments . the amendments provide guidance in the presentation and classification of certain cash receipts and cash payments in the statement of cash flows including debt prepayment or debt extinguishment costs , contingent consideration payments made after a business combination , proceeds from the settlement of insurance claims , proceeds from the settlement of corporate-owned life insurance policies , and distributions received from equity method investees . the company adopted these provisions in the first quarter of

