For 20Y3, Greyhound Technology Company reported its most significant decline in net income in years. At the end of the year, Duane Vogel, the president, is presented with the following condensed comparative income statement: GREYHOUND TECHNOLOGY COMPANY Comparative Income Statement For the Years Ended December 31, 20Y3 and 20Y2        20Y3        20Y2 Sales $ 586,521    $ 513,000  Cost of goods sold (416,000)   (320,000) Gross profit $ 170,521    $ 193,000  Selling expenses $ (59,130)   $ (43,000) Administrative expenses (34,290)   (27,000) Total operating expenses $ (93,420)   $ (70,000) Income from operations $ 77,101    $ 123,000  Other income 2,809    2,200  Income before income tax $ 79,910    $ 125,200  Income tax expense (22,400)   (37,600) Net income $ 57,510    $ 87,600

Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows:                                                          Current Year              Previous YearSales                                                   $4,000,000                $3,600,000Cost of goods sold                              2,280,000                   1,872,000Selling expenses                                  600,000                      648,000Administrative expenses                      520,000                       360,000Income tax expense                             240,000                       216,000a. Prepare an income statement in comparative form, stating each item for both years as a percent of sales. Round to the nearest whole percentage.b. Comment on the significant changes disclosed by the comparative income statement.

Please answer all 3 parts accordingly:   Joyner Company’s income statement for Year 2 follows:   Sales $ 709,000 Cost of goods sold 76,000 Gross margin 633,000 Selling and administrative expenses 150,800 Net operating income 482,200 Nonoperating items:   Gain on sale of equipment 5,000 Income before taxes 487,200 Income taxes 146,160 Net income $ 341,040   Its balance sheet amounts at the end of Years 1 and 2 are as follows:     Year 2 Year 1 Assets     Cash $ 313,940 $ 57,200 Accounts receivable 222,000 143,000 Inventory 319,000 279,000 Prepaid expenses 11,000 22,000 Total current assets 865,940 501,200 Property, plant, and equipment 640,000 508,000 Less accumulated depreciation 165,400 130,900 Net property, plant, and equipment 474,600 377,100 Loan to Hymans Company 48,000 0 Total assets $ 1,388,540 $ 878,300 Liabilities and Stockholders' Equity     Accounts payable $ 315,000 $ 254,000 Accrued liabilities 43,000 51,000 Income…

The balance sheet of ATLF, Inc. reports total assets of $950,000 and $1,050,000 at the beginning and end of the year, respectively. Net income and sales for the year are $100,000 and $800,000, respectively. What is ATLF's profit margin?   Select one: a. 8% b. 15% c. 10% d. 80% e. 12.5%