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Arlington Merchants reported the following on its income statement for the fiscal years ended December 31, 2020 and 2019. Sales Cost of goods sold Gross

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Arlington Merchants reported the following on its income statement for the fiscal years ended December 31, 2020 and 2019. Sales Cost of goods sold Gross profit Operating expenses Profit 2020 $4,855,000 3,257,705 1,597,295 883,610 $713,685 2019 $4.755,000 3.204,870 1,550,130 893,940 $656,190 Your answer has been saved. See score details after the due date. Calculate the gross profit margin for Arlington for 2019 and 2020. (Round answers to 1 decimal place, eg. 52.7%) Gross profit margin 32.9 2020 % 2019 326 % Calculate the profit margin for Arlington for 2019 and 2020. (Round answers to 1 decimal place, eg. 52.7%) Profit margin 2020 14.7 93 2019 13.8 Attempts: 1 of 1 used For each ratio calculated in (a) and (b) above, comment if the ratio has improved or deteriorated from 2019 to 2020, The gross profit margin has from 2019 to 2020 The profit margin has from 2019 to 2020

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