You were sick one day and had trouble sleeping. So you decided to do the accounting for Halls (the medicine that is helping keep you through the sickness). When reading their financial statements, Hall's Company's accountants reported: - Advertising expense $9,500 : - Interest expense $4,500; - Rent expense for store $16,000; - Loss on sale of property and equipment $7,300; - Cost of goods sold $22,900 - Depreciation expense $8700; - Prepaid insurance $1,5 How much were Halls' total expenses in calculating operating income? None of these are correct answers $48,400 $61,600 $64.400 $68,900 Which of the following statements regarding the net profit margin ratio is false? Financial analysts expect well-run businesses to maintain or improve their profit margin over time It measures how much of every sales dollar is gross profit The denominator is net sales or operating revenues The numerator is net income