ignment s Question 12 Arlington Merchants reported the following on its income statement for the fiscal years ending December 31, 2016 and 2015. Sales Cost of goods sold Gross Profit Operating expenses Profit 2016 $4,852,700 3,262,150 1,590,550 879,080 $711,470 2015 $4,754,000 3,201,100 1,552,900 893,180 $659,720 Calculate the gross profit margin for Arlington for 2015 and 2016. (Round answers to 1 decimal place, e.g. 52.7%.) Gross profit margin 2016 % 2015 % Calculate the profit margin for Arlington for 2015 and 2016. (Round answers to 1 decimal place, e.g. 52.7%.) Profit margin II to search 5 2015 FULL SCREEN % Calculate the profit margin for Arlington for 2015 and 2016. (Round answers to 1 decimal place, e.g. 52.7%.) Profit margin 2016 % 2015 % deteriorated from 2015 to 2016. For each ratio calculated in (a) and (b) above, comment if the ratio has improved from 2015 to 2016. The gross profit margin has from 2015 to 2016. The profit margin has Question Attempts: 0 of 1 used 9 o is o search hp