The following information is taken from the records of Black Spruce Co. Ltd.:
|
2017 |
2016 |
2015 |
|
|
Sales |
$252 |
$141 |
$120 |
|
Gross profit |
63 |
48 |
54 |
|
Net income |
12 |
5 |
15 |
Required: Analyze the gross profit and net profit ratios using the above data. Comment on trends you observe.
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