2. Calculate the following ratios for each of the three years presented. Show your computations Current year Last year Two years ago Gross profit rate (%) 449 43.8 Profit margin (%) Return on assets You will find prior years' assets in the Five-Year Summary of Selected Financial Data 3. Compare these ratios to industry averages. (Note: The gross profit rate may also be called me margin. The profit margin percentage may also be called the net profit margin.) Your company Industry Gross profit rate Operating margin Profit margin Return on assets How do the results for your company compare to industry averages? - + El Draw CONSOLIDATED STATEMENTS OF INCOME 3,341 YEAR ENDED MAY 31, 2019 2018 2017 39,117 $ 36,397 $ 34,350 21,64320,44119,038 17,474 15,956 15,312 3,753 3,577 8,949 7,934 7,222 12.702 10,563 49 59 (78) (196) 4,801 4 225 772 2.392 4,029 $ 1,933 $ 4,240 (In millions, except per share data) Revenues Cost of sales Gross profit Demand creation expense Operating overhead expenses Total selling and administrative expense Interest expense (income), nel Other (income) expense, net Income before income taxes Income tax expanse NET INCOME Earnings per common share: 1.511 66 4 886 846 Basic 255 $ 2.49 $ 1.19 $ 1.17 $ 2.56 2.51 Diluted Weighted average common shares outstanding Basic Diluted 1.579.7 1.618.4 1623.8 1.659.1 1,6578 1.6920 The accompanying Notes to the Consolidated Financial Statements are an integral part of this statement default browser? Go to settings - + 2019 2018 4,249 996 4.466 $ 197 4,272 5,622 1.968 16,525 4.744 283 3.498 5,261 1.130 15,134 4,454 285 154 154 2509 2011 23,717 S $ 22,536 DOWS ASSETS Current assets Cash and equivalents Short-term investments Accounts receivable, net Inventories Prepaid expenses and other current assets Total current assets Property, plant and equipment, net Identifiable intangible assets, not Goodwill Deferred income taxes and other assets TOTAL ASSETS LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Current portion of long-term debt Notes payable Accounts payable Accrued liabilities Income taxes payable Total current liabilities Long-term debt Deferred income taxes and other abilities Commitments and contingencies (Note 18) Redeemable preferred stock Shareholders' equity Common stock at started value: Clase A convertible 315 and 320 chares outstanding S 656 336 2.612 5.010 3.259 229 7.866 6.040 3 454 3.347 3.216 150