Ratio Analysis Selected information from Bigg Company's financial statements follows: Fiscal Year Ended December 31 2023 2022 (in thousands) 2021 Gross sales $2,004,719 $1,937,021 $1,835,987 Less: Sales discounts 4,811 4,649 4,406 Less: Sales returns and allowances 2,406 2,324 2,203 Net sales $1,997,502 $1,930,048 $1,829,378 Cost of goods sold 621,463 619,847 660,955 Gross profit $1,376,039 $1,310,201 $1,168,423 Operating expenses 577,369 595,226 583,555 Operating income $798,670 $714,975 $584,868 Other income (expenses) 15,973 (6,300) (8,773) Net income $814,643 $708,675 $576,095 At December 31 2023 2022 2021 (in thousands) Accounts receivable $201,290 $195,427 $182,642 Less: Allowance for doubtful accounts 2,516 Net accounts receivable $198,774 2,736 $192,691 $180,450 2,192 Required: 1. Calculate the following ratios for 2022 and 2023. Round your answers to two decimal places. a. Gross profit margin b. Operating margin c. Net profit margin d. Accounts receivable turnover 2022 2023 2. Are operations improving or worsening?