WileyPLUS: MyWileyPLUS | Help I Com Weygandt, Accounting Principles, Seventh Canadian Edition, Volume 1, Accounting Custom Course for Seneca College actice Assignment Gradebook ORION nment FULL SCREEN PRINTER VERSION Question 12 Arlington Merchants reported the following on its income statement for the fiscal years ending December 31, 2016 and 2015. 2016 2015 Sales $4,851,600 $4,753,600 Cost of goods sold 3,266,150 3,203,000 Gross Profit 1,585,450 1,550,600 Operating expenses 881,080 901,180 Profit $704,370 $649,420 Calculate the gross profit margin for Arlington for 2015 and 2016. (Round answers to 1 decimal place, e.g. 52.7%.) Gross profit margin 2016 % 2015 % RCES 2015 ar % FULL SCREEN PRINTER VERSION Calculate the profit margin for Arlington for 2015 and 2016. (Round answers to 1 decimal place, e.g. 52.7%.) Profit margin 2016 % I 2015 % For each ratio calculated in (a) and (b) above, comment if the ratio has improved or deteriorated from 2015 to 2016 from 2015 to 2016 The gross profit margin has The profit margin has from 2015 to 2016. SAVE FOR LATER SUBMIT ANS Question Attempts: 0 of 1 used Version Privacy Policy. I 2000-2020 John Wiley & Sons, Inc. All Rights Reserved. A Division of John Wiley & Sons, Inc