Presented below is the comparative income statement of Morrison Company for $2023$ and $2022.$

Morrison Company

Income Statement

For the Year Ended November $30$

$20232022$

Sales $$185,963$ $$106,624$

Cost of Goods Sold $$117,271$ $$66,619$

Gross Profit $$68,692$ $$40,005$

Operating Expenses

Administrative Expense $$16,013$ $$11,568$

Selling Expense $$26,609$ $$23,892$

Total Operating Expenses $$42,622$ $$35,460$

Other Income and Expenses

Interest Expense $$1,785$ $$917$

Income Before Income Tax $$24,285$ $$3,628$

Income Tax $$7,286$ $$1,088$

Net Income $($Loss$)$ $$16,999$ $$2,540$

a$)$ Calculate the following ratios for both years. Enter net profit margin as a percentage.

Do not enter dollar signs or commas in the input boxes.

Round your answers to $2$ decimal places.

$20232022$

Net Profit Margin Answer

Answer

Time Interest Earned Answer

Answer

b$)$ In which year does the company have a better performance with respect to the net profit margin calculated in part a$)?$

Year:Answer