Evaluate the financial statements of RetailWorks for the years ended December 31, 2023, 2022, and 2021, and answer the following:

RetailWorks Comparative Income Statements for Years Ended December 31, 2023, 2022, and 2021:

• Sales: 2023: $2,000,000, 2022: $1,800,000, 2021: $1,500,000
• Cost of Goods Sold: 2023: $1,000,000, 2022: $900,000, 2021: $750,000
• Gross Profit: 2023: $1,000,000, 2022: $900,000, 2021: $750,000
• Operating Expenses: 2023: $300,000, 2022: $250,000, 2021: $200,000
• Net Income: 2023: $500,000, 2022: $450,000, 2021: $350,000

RetailWorks Comparative Balance Sheets as of December 31, 2023, 2022, and 2021:

• Total Assets: 2023: $3,000,000, 2022: $2,500,000, 2021: $2,000,000
• Total Liabilities: 2023: $1,000,000, 2022: $900,000, 2021: $800,000
• Shareholders' Equity: 2023: $2,000,000, 2022: $1,600,000, 2021: $1,200,000

Requirements:

1. Calculate the gross profit margin for each year.
2. Determine the operating profit margin for each year.
3. Compute the return on equity (ROE) for each year.
4. Calculate the quick ratio for 2023 if current assets are $1,200,000 and inventory is $400,000.
5. Analyze the trend in financial performance over the three years.