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A company's income statements for the past three years are as follows: Sales Cost of goods sold Depreciation expense Gross Profit Operating expenses Operating profit

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A company's income statements for the past three years are as follows: Sales Cost of goods sold Depreciation expense Gross Profit Operating expenses Operating profit Interest expense Income before taxes Taxes Net income 20Y1 $ 15,000 10,490 150 4,360 2.454 1,906 286 1,620 848 $ 972 2012 $ 18,000 12,498 162 5,340 3.218 2,122 252 1,870 892 $ 978 20Y3 $ 21,240 14,514 206 6,520 3,988 2,532 260 2,272 1.128 $ 1,144 Which of the following best describes the company's profit margin performance? The company's gross profit margin and operating profit margin decreased in 20Y2 and then fully recovered in 2013. O Gross profit margin and net profit margin have grown consistently since 20Y1. By all measures (gross, operating, pretax, and net profit margins), 2013 was clearly the company's best year. Although gross profit margin grew steadily, net profit margin declined over the three year period

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