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Wilson Company Income Statement Year Ended December 31, 2019 Revenue: Sales $187,000 Less Expenses: Wages 127,000 Rent 11,000 Utilities 7,000 Insurance 5,000 Depreciation 1,200 Miscellaneous
Wilson Company Income Statement
Year Ended December 31, 2019
Revenue: | |
Sales | $187,000 |
Less Expenses: | |
Wages | 127,000 |
Rent | 11,000 |
Utilities | 7,000 |
Insurance | 5,000 |
Depreciation | 1,200 |
Miscellaneous | 1,550 |
Income Before Taxes | 52,750 |
Less Taxes @35% | 18,463 |
Net Income | $34,287 |
If the profit margin for the year ended December 31, 2018 was 16.0%, does the year ended December 31, 2019 profit margin from the income statement above show a positive (increase) or negative (decrease) trend from 2018 through 2019?
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