Current Year Net sales $43,251 Cost of sales 20,351 Selling and Administrative expense 15,965 Operating income 6,935 Other income 86 Income before taxes Provision for income taxes 1,879 Net income 5,142 Prior Year $39,474 18,038 14,266 7,170 461 7,631 1,973 5,658 7,021 Perform a horizontal analysis on each account. Round percentage to one decimal point (i.e. 10.1%). What conclusions can you make about this company? Answer: 11. Show the calculation of each of the five profitability ratios (profit margin, return on equity, return on assets, earning per share, and price-to-earnings ratio) and describe what each ratio reveals