Micatin, Inc.'s comparative Income statement follows. The 2023 data are given as needed. :: (Click the icon to view the data.) A Data Table Read the requirements. Requirement 1. Calculate the profit margin ratio for 2025 and 2024. Begin by selecting the formula to calculate the profit margin ratio. Profit margin ratio = Net income Net sales revenue Now, calculate the profit margin ratio for 2025 and 2024. (Round your answers to one tenth of a percent, X.X, and do not enter the Profit margin ratio % Micatin, Inc. Comparative Income Statement Years Ended December 31, 2025 and 2024 2025 2024 2023 S 181,000 S 160,000 93,500 86,500 Net Sales Revenue Cost of Goods Sold Selling and Administrative Expenses Interest Expense % 45.000 40.500 2025 2024 % 8.000 7,000 12,000 4,400 Income Tax Expense S 27,500 S 16,600 Net Income Additional data: S 209,000 S 187,000 $ 167,000 Total Assets Common Stockholders' Equity 96.000 80,500 2.000 91,500 2,000 15,000 Preferred Dividends Common Shares Outstanding During the Year 0 15.000 10,000