The following financial statements are for Bentley Inc. Bentley Inc. Income Statement For Years Ended December 31, 2014, 2013, and 2012 2014 2013 Sales 634,400 538,500 Cost of goods sold 349,400 323,800 Gross profit from sales 285,000 214,700 Operating expenses 149,100 124,700 Operating income 135,900 90,000 Interest expense 9,950 8,350 Income before taxes 125,950 81,650 Income taxes 20,800 18,100 Net income 105,150 63,550 2012 510,200 309,200 201,000 106,600 94,400 8,750 85,650 20,200 65,450 Bentley Inc. Balance Sheet December 31, 2014, 2013, and 2012 Assets 2014 2013 Cash 91,900 76,800 Short-term investments 13,000 13,000 Accounts receivable 36,900 32,400 Merchandise inventory. 21,500 23,500 Prepaid expenses 10,400 9,100 Notes receivable, due in 2018 10,000 11,500 Property, plant and equipment, net 311,000 317,000 Total assets 494,700 483,300 Liabilities and Equity Accounts payable 30,600 27,400 Salaries payable Property taxes payable 7,550 7,600 Long-term note payable 151,000 134,000 Share capital 260,000 290,000 Retained earnings 25,850 3,200 Total liabilities and equity. 494,700 483,300 2012 74,200 15,000 27,000 25,800 9,800 11,000 305,000 467,800 28,500 18,900 7,450 151,000 260,000 1,950 467,800 Compute the gross margin below, and indicate whether the change from year to year is favourable or unfavourable. For your analysis, assume that all other things have remained constant. Apply your analysis in very general terms. All values should be accurate to at least two decimal places. Ratio 2014 2013 Analysis Gross margin (select one)