The Following Information Is Available for the Wooden Company From the Information Provided,calculate Wooden's Profit Margin Ratio for Each

Essay

The following information is available for the Wooden Company:
$\begin{array}{|l|r|r|r|}\hline&2013 & 2012 & 2011\\\hline \text { Net income } & \$ 2,630 & \$ 2,100 & \$ 1,850 \\\hline \text { Net sales } & 36,500 & 32,850 & 31,200 \\\hline \text { Total assets } & 400,000 & 385,000 & 350,000\\\hline \end{array}$
From the information provided,calculate Wooden's profit margin ratio for each of the three years.Comment on the results,assuming that the industry average for the profit margin ratio is 6% for each of the three years.