Exercise 8 -The following are excerpts from Your Co's financial statements

Exercise 8 -The following are excerpts from Your Co's financial statements. Sales Sales Discounts Sales Returns & Allowances COGS Operating & Other Expenses Allowance Doubtful Accounts Net Sales Gross Profit (Margin) Net Income Average Net A/R Gross Margin Ratio Profit Margin Ratio A/R Turnover Ratio $ 1,030.00 10.00 140.00 10.00 Your Co. 20X2 $ 920.00 131.00 11.00 $ 85300 439.90 332.00 x x x x x Is Your Co's gross margin ratio better than the industry average of 45%? Is Your Co's profit margin ratio better than the industry average of 11%? Is Your Co's A/R Turnover ratio better than the industry average of 12?