Review the comparative financial statements of TechCorp for the years ended December 31, 2023, 2022, and 2021 provided below. Answer the following questions:

TechCorp Comparative Income Statements for Years Ended December 31, 2023, 2022, and 2021:

• Sales: 2023: $800,000, 2022: $650,000, 2021: $520,000
• Cost of Goods Sold: 2023: $320,000, 2022: $250,000, 2021: $200,000
• Gross Profit: 2023: $480,000, 2022: $400,000, 2021: $320,000
• Selling Expenses: 2023: $100,000, 2022: $85,000, 2021: $70,000
• Administrative Expenses: 2023: $80,000, 2022: $75,000, 2021: $60,000
• Total Expenses: 2023: $180,000, 2022: $160,000, 2021: $130,000
• Income Before Taxes: 2023: $300,000, 2022: $240,000, 2021: $190,000
• Income Tax Expense: 2023: $60,000, 2022: $48,000, 2021: $38,000
• Net Income: 2023: $240,000, 2022: $192,000, 2021: $152,000

TechCorp Comparative Balance Sheets as of December 31, 2023, 2022, and 2021:

• Total Assets: 2023: $1,200,000, 2022: $950,000, 2021: $750,000
• Total Liabilities: 2023: $500,000, 2022: $400,000, 2021: $350,000
• Shareholders' Equity: 2023: $700,000, 2022: $550,000, 2021: $400,000

Requirements:                                                     

1. Calculate the gross profit margin for each year.
2. Determine the net profit margin for each year.
3. Compute the return on assets (ROA) for each year.
4. Compute the current ratio for 2023 if current assets are $600,000 and current liabilities are $300,000.
5. Analyze the trend in profitability over the three years.