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The Haines Corporation shows the following financial data for 20X1 and 20X2: 20X1 20X2 Sales...

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Accounting

The Haines Corporation shows the following financial data for 20X1 and 20X2: 20X1 20X2 Sales $ 2,990,000 $ 3,800,000 Cost of goods sold 2,440,000 2,230,000 Gross profit $ 550,000 $ 1,570,000 Selling & administrative expense 286,000 269,000 Operating profit $ 264,000 $ 1,301,000 Interest expense 48,900 54,400 Income before taxes $ 215,100 $ 1,246,600 Taxes (35%) 75,285 436,310 Income after taxes $ 139,815 $ 810,290 For each year, compute the following ratios and indicate how the change in each ratio will affect profitability in 20X2. Note: Input your answers as a percent rounded to 2 decimal places

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