Problem 5-87A (Algorithmic) Ratio Analysis Selected information from Bigg Company's financial statements follows: Gross sales Less: Sales discounts Less: Sales returns and allowances Net sales Cost of goods sold Gross profit Operating expenses Operating income Other income (expenses) Net income Fiscal Year Ended December 31 2019 2018 2017 (in thousands) $2,004,719 $1,937,021 $1,835,987 4,811 4,649 4,406 2,406 2,324 2,203 $1,997,502 $1,930,048 $1,829,378 621,463 619,847 660,955 $1,376,039 $1,310,201 $1,168,423 577,369 595,226 583,555 $798,670 $714,975 $584,868 15,973 (5,910) (8,773) $814,643 $709,065 $576,095 2019 At December 31 2018 (in thousands) 2017 Operating income Other income (expenses) $798,670 15,973 $714,975 (5,910) $709,065 $584,868 (8,773) $576,095 Net income $814,643 2019 2017 Accounts receivable Less: Allowance for doubtful accounts Net accounts receivable Required: At December 31 2018 (in thousands) $195,427 2,736 $192,691 $201,290 2,516 $198,774 $182,642 2,192 $180,450 1. Calculate the following ratios for 2018 and 2019. Round your answers to two decimal places. 2018 2019 a. Gross profit margin b. Operating margin c. Net profit margin d. Accounts receivable turnover 2. Are operations improving or worsening