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Using the answers in Q 1 and Q2, explain whether the net profit ratios have...

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Accounting

Using the answers in Q 1 and Q2, explain whether the net profit ratios have improved or worsened from 2022 to 2021? ABC Limited Income Statement for the years Ended Dec 31, 2022 and Dec 31, 2021 2022 2021 Sales $ 1,562,500.00 $ 1,406,250.00 Less Cost of Sales Opening Stock $ 250,000.00 $ 150,000.00 Add Purchases $ 1,550,000.00 $ 1,253,125.00 Less Closing Stock -$ 550,000.00 -$ 250,000.00 Total Cost of Sales $ 1,250,000.00 $ 1,153,125.00 Gross Profit $ 312,500.00 $ 253,125.00 Selling And Admin Expenses $ 132,500.00 $ 135,000.00 Operating Profit (Profit

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