The Following Information Is Available for Hatter Co From the Information Provided, Calculate Hatter's Profit Margin Ratio for |

Essay

The following information is available for Hatter Co.
$$\begin{array} { | l | l | l | l | } \hline & 2017 & 2016 & 2015 \\\hline \text { Net in come } & 2,500 & 1,700 & 1,900 \\\hline \text { Net sales } & 37,000 & 35,000 & 32,000 \\\hline \text { Total asststs } & 420,000 & 395,000 & 375,000 \\\hline\end{array}$$ From the information provided, calculate Hatter's profit margin ratio for each of the three years. In 2016, economic conditions and a slowing economy impacted the results of operations. Comment on the results, assuming that the industry average for the profit margin ratio is 7% for each of the three years.