Net Sales Cost of Goods sold Gross Profit Selling, General, and Administrative Expenses 1scene from Operations Interest Expen Income before Income Tax Income Tax Expense Set Income Net Prof Margin 7 Retum an Equity Gross Prott Percentage 7Price/Earrings Ratio Cument Rato LOCKEY FENCING CORPORATION Income Statements for the Tears Inded December 31 Times interest Earned Ratio Current O improved O Deteriorated $100,000 18,000 42,000 9,000 13,000 1.900 30.000 1,000 $ 21,000 Required: a. Which ratios have been included in the above calculations? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer.) 100.0 58.0 42.0 9.0 13.0 3.0. 30.0 21.01 PREVIOU $75,000 45,000 30,000 4,500 100.0 60.0 40.0 6.0 34.0 5.0 21,750 29.0 6,325 1.7 20.3 15,225 25,500 3,750 b. Have these two ratios improved or deteriorated in the current year compared to the previous year?