Current Attempt in Progress In 2024, Modder Corporation reported sales of $250,000; cost of goods sold of $137,500; operating expenses of $50,000; and income tax expense of $20,000. In 2023, it reported sales of $200,000; cost of goods sold of $114,000; operating expenses of $40,000; other income of $10,000; and income tax expense of $15,000. 2024 2023 Gross profit $112,500 $86,000 Net income $42,500 $41,000 2024 2023 Gross profit margin 45.0% 43.0% Profit margin 17.0% 20.5% (c) Comment on Modder's changing profitability