Use the following IS and balance sheets for ABC to calculate the net profit margin for the year 2006. ABC Income Statement Ending Dec. 31st 2005 2006 $1,800,000 3,000,000 Net Sales - COGS 1,000,000 1.800,000 1 200.000 Gross Prot 720,000 180.000 300 000 500 000 500,000 - Marketing Expenses - General Administrative (G&A Expenses -Depreciation expense EBIT Interest 80,000 30.000 -40.000 90 000 EBT -130,000 320,000 120.000 200,000 50,000 150 000 0 -Theres Net Income 130,000 0 70.000 Dividends Change in Retained Earnings 0 00.000 Click Save and Submit to me and submit. Click Save All Antall ans Save All Answer 3 5 6 9 10 11 12 13 14 15 ABC Balance Sheet Ending Dec. 31st (5) Left Hand Side of the B.S. Assets 2005 2006 Change Average Cash 40,000 100,000 400,000 Receivables 560.000 800,000 1,000,000 Inventories Total Current Assets 1,300,000 1,600,000 Gross Fixed Assets 900.000 1.080,000 Less: Accumulated Depreciation Net Fixed Assets 200,000 700,000 2,000,000 280,000 800,000 2,400,000 Total Assets Right Hand Side of the B.S. Liabilities and Equity Payables 250,000 320,000 Accrued Wages 100.000 140.000 Click Save and Submit to save and submit. Click Save All Answers to save all answers Question Completion Status: 22 3 4 5 6 7 8 9 10 11 12 13 14 15 Right Hand Side of the B.S. Liabilities and Equity Payables Accrued Wages 260,000 320,000 140,000 Bank Loan 100,000 180,000 540,000 200,000 Total Current Liabilities 660,000 600,000 800,000 300,000 Long-term Debt Owner's Equity Common Stock (@par) Additional paid-in-capital Retained Earnings Total liabilities and equity O A (3.869)% B.4.276% C. (7.222)% D.5.000% E 6.000% 300,000 400,000 160,000 52,000,000 400,000 240.000 $2.400,000 Click Save and Submit to save and submit. Click Save All Answers to save all ansters Sa