Presented below is the comparative income statement of Morrison Company for 2020 and 2019. Morrison Company...

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Presented below is the comparative income statement of Morrison Company for 2020 and 2019. Morrison Company Income Statement For the Year Ended May 31 2020 2019 Sales $189,187 $101,938 Cost of Goods Sold $116,625 $62,622 Gross Profit $72,562 $39,316 Operating Expenses Administrative Expense $24,578 $13,764 Selling Expense Total Operating Expenses $27,881 $21,459 $52,459 $35,223 Other Income and Expenses Interest Expense $1,817 $961 Income Before Income Tax $18,286 $3,132 $5,486 $12,800 Income Tax $940 Net Income (Loss) $2,192 a) Calculate the following ratios for both years. Enter net profit margin as a percentage. Do not enter dollar signs or commas in the input boxes. Round your answers to 2 decimal places. 2020 2019 Net Profit Margin Total Operating Expenses $52,459 $35,223 Other Income and Expenses Interest Expense $1,817 $961 $18,286 $5,486 Income Before Income Tax $3,132 Income Tax $940 Net Income (Loss) $12,800 $2,192 a) Calculate the following ratios for both years. Enter net profit margin as a percentage. Do not enter dollar signs or Commas in the input boxes. Round your answers to 2 decimal places. 2020 2019 Net Profit Margin Time Interest Earned b) In which year does the company have a better performance with respect to the net profit margin calculated in part a)? Year: Check Presented below is the comparative income statement of Morrison Company for 2020 and 2019. Morrison Company Income Statement For the Year Ended May 31 2020 2019 Sales $189,187 $101,938 Cost of Goods Sold $116,625 $62,622 Gross Profit $72,562 $39,316 Operating Expenses Administrative Expense $24,578 $13,764 Selling Expense Total Operating Expenses $27,881 $21,459 $52,459 $35,223 Other Income and Expenses Interest Expense $1,817 $961 Income Before Income Tax $18,286 $3,132 $5,486 $12,800 Income Tax $940 Net Income (Loss) $2,192 a) Calculate the following ratios for both years. Enter net profit margin as a percentage. Do not enter dollar signs or commas in the input boxes. Round your answers to 2 decimal places. 2020 2019 Net Profit Margin Total Operating Expenses $52,459 $35,223 Other Income and Expenses Interest Expense $1,817 $961 $18,286 $5,486 Income Before Income Tax $3,132 Income Tax $940 Net Income (Loss) $12,800 $2,192 a) Calculate the following ratios for both years. Enter net profit margin as a percentage. Do not enter dollar signs or Commas in the input boxes. Round your answers to 2 decimal places. 2020 2019 Net Profit Margin Time Interest Earned b) In which year does the company have a better performance with respect to the net profit margin calculated in part a)? Year: Check

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Net Profit Margin Net IncomeSales 100 a For 2020 Net Pro... View the full answer