(1) Calculate the following four indicators, "gross profit ratio", "profit margin", "(operating) expenses to sales ratio", and "inventory turnover" for year 2017 and year 2018. (10 marks) (

Case 7: The Profit-loss statement and profitability (15 marks) You are provided with the following table about a retail business (in $): 2018 2019 Net sales 120,000 160,000 Cost of goods sold 80,000 100,000 Gross profit ( ) ( ) Operating expenses 30,000 32,000 Net profit ( ) ( ) Inventory (ending balance Ending balance Ending balance 52,000 46,000 in 2016) 50,000 Required: (1) Calculate the following four indicators, "gross profit ratio", "profit margin", "(operating) expenses to sales ratio", and "inventory turnover" for year 2017 and year 2018. (10 marks) (2) Based on the ratios calculate in part a of this question, comment on the profitability aspect of the business