Income Statement Ratio The income statement of Holly Enterprises shows operating revenues of $151,600, selling expenses of $38,270, general and administrative expenses of $34,620, interest expense of $730, and income tax expense of $17,492. Holly's stockholders' equity was $305,000 at the beginning of the year and $365,000 at the end of the year. The company has 25,000 shares of stock outstanding at the end of the year. Required: and is a good indicator of its profitability. For the calculation of its profit margin to be useful, two key factors Holly's profit margin is 39.9% should be used: and balance sheets company historical profit margin rates company budgeted profit margin rates market rate of interest working capital Income Statement Ratio The income statement of Holly Enterprises shows operating revenues of $151,600, selling expenses of $38,270, general and administrative expenses of $34,620, interest expense of $730, and income tax expense of $17,492. Holly's stockholders' equity was $305,000 at the beginning of the year and $365,000 at the end of the year. The company has 25,000 shares of stock outstanding at the end of the year. Required: and is a good indicator of its profitability. For the calculation of its profit margin to be useful, two key factors Holly's profit margin is 39.9% should be used: and balance sheets cash flow statement current ratio industry norms market values