(c) Based on your analysis in (b), what recommendation would you give to LA Theatres to increase its gross profit margin?

3.14. LA Theatres Inc. has two distinct revenue sources, ticket and concession revenues. The follow- ing information from LA Theatres Inc. income statements for the past three years is available: (in millions) 2015 2014 Ticket revenue Concessions revenue Total revenue Cost of goods sold-tickets Cost of goods sold-concessions Total cost of goods sold Gross profit 2016 $1,731 792 $2,523 $ 951 70 $1,642 687 $2,329 $ 854 69 $ 923 $1,120 411 $1,531 $ 549 48 $ 597 $ 934 $1,021 $1,502 $1,406 (a) Calculate gross profit margins for tickets and concessions for all three years. Calculate an overall gross profit margin for LA Theatres Inc. for all three years. (b) Analyze the changes in gross profit margin for all three years