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

Essay

The following information is available for the Wooden Company:
$$\begin{array} { | l | r | r | r | } \hline & 2010 & 2009 & 2008 \\\hline \text { Net income } & \$ 2,630 & \$ 2,100 & \$ 1,850 \\\hline \text { Net Sales } & 36,500 & 32,850 & 31,200 \\\hline \text { Total assets } & 400,000 & 385,000 & 350,000 \\\hline\end{array}$$
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.