(Answered) 1 singular corp has the following income statement

Finance

1. Singular Corp. has the following income statement data:

	2006	2007
Sales	$500,000	$700,000
Gross profit	161,300	205,000
Selling and administrative expense	45,200	74,300
Interest expense	15,200	29,100
Net income (after these and other expenses)	44,100	45,600

a. Compute the ratio of each of the last four items to sales for 2006 and 2007.

b. Based on your calculations, is the company improving or declining in its performance?

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