Problem 5-87A (Algorithmic) Ratio Analysis Selected Information from Big Company's financial statements follows: Gross sales Less: Sales discounts Less: Sales returns and allowances Net sales Cost of goods sold Gross profit Operating expenses Operating Income Other income (expenses Net Income Fiscal Year Ended December 31 2019 2018 2012 (in thousands) $2,004,719 $1.937,021 51,835,987 4,811 4,649 4.406 2.406 2,224 2,203 $1.997.502 $1,930.04 $1,629,378 021.463 619.147 600.053 $1.376,039 $130.20131.158423 577,269 595,20 58.3.555 5795,670 $714.975 5504.885 15.07) 15.2391 0.773 38:4.643 3709145 3575.00 AE December 31 2012 2019 2011 in thousands $714.975 3584.868 Operating income Other income (expenses) Net Income $798,670 15,973 $814,643 (8,773) (5,230) 5709,745 $576,095 2019 At December 31 2018 (in thousands) $195,427 2017 1201,290 2,516 Accounts receivable Less: Allowance for doubtful accounts Net accounts receivable Required: 2,736 $192.691 $182,642 2.192 $180.450 $198.774 1. Calculate the following ratios for 2018 and 2019. Round your answers to two decimal places 2018 2019 a. Gross profit margin b. Operating margin Net profit margin d. Accounts receivable turnover 2. Are operations improving or worsening