D.H. Muller Company presented the following income statement in its 2011 annual report:

(Dollars in thousands except per-share amounts) 2011 2010 2009

Net Sales 297,580 256360 242150

Cost of sales 206000 176,300 165,970

Gross profit 91580 80060 76180

Selling, admin, and other Exp 65200 57200 56000

Operating earnings 26380 22860 20180

Interest Expense (5990) (5100) (4000)

Other Deductions, net (320) (1100) (800)

Earnings before income taxes, noncontrolling

Interests, and extraordinary items 20070 16660 15380

Income taxes (8028) (6830) (6229)

Net earnings of subsidiaries applicable to

non controlling interests (700) (670) (668)

Earnings before extraordinary items 11342 9160 8483

Exraordinary items:

Gain on sale of investment, net of federal and

state income taxes $520 - 1050 -

Loss due to damages to South American facilities

net of noncontrolling interest $430 - (1600) -

Net earning $ 11,342 8,610 8,483

Earnings per common share:

Earnings before extraordinary items $ 2.20 1.82 1.65

Extraordinary items - (0.06) -

Net earnings $ 2.20 1.76 1.65

The asset side of the balance sheet is summarized as follows:

Dollars in thousands 2011 2010 2009

Current assets 89,800 84,500 83,100

Property, plant, equipment 45,850 40,300 39,800

other assets (includeing investments, deposits,

deferred charges, and intandibles) 10,110 12,200 13,100

Totoal assets $ 145,760 137,000 136,000

Required:

A. Based on this data, compute the following for 2011, 2010, and 2009:

1. Net profit margin

2. Return on assets (using total assets)

3. Total asset turnover (using total assets)

4. Dupong analysis

5. Operating income margin

6. Return on operating assets (using end of year operating assets)

7. Operating asset turnover (using end of year operating assets)

8. Dupont analysis with operating ratios

9. Gross profit margin

B. Discuss your findings