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Marigold Inc. and Martinez Corporation are Canadian fertilizer companies. The following information has been taken from their financial statements for the fiscal years ended December 31. All figures are in millions of dollars.

MARTINEZ		2021		2020		2019
Net sales		$8,985.1		$4,810.8		$3,706.0
Gross profit		4,999.6		1,865.6		930.7
Profit		3,359.8		1,110.4		688.9

MARIGOLD		2021		2020		2019
Net sales		$9,297		$5,239		$4,139
Gross profit		3,303		1,584		982
Profit		1,197		426		36

Calculate both companies gross profit margin and profit margin for the years 2019 through 2021. (Round answers to 1 decimal place, e.g.52.7%.)

MARTINEZ		2021		2020		2019
Gross profit margin		%		%		%
Profit margin		%		%		%

MARIGOLD		2021		2020		2019
Gross profit margin		%		%		%
Profit margin		%		%		%

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Determine which company had the best performance for profitability in each year.

		2021		2020		2019
Gross profit margin		MartinezMarigold		MartinezMarigold		MarigoldMartinez
Profit margin		MarigoldMartinez		MarigoldMartinez		MarigoldMartinez

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Using horizontal analysis, calculate the percentage change between the following years: 2019 and 2020; 2020 and 2021 for both companies. (Round answers to 1 decimal place, e.g.52.7%.)

MARTINEZ		2021			2020
Net sales			%			%
Gross profit			%			%
Profit			%			%

MARIGOLD		2021			2020
Net sales			%			%
Gross profit			%			%
Profit			%			%

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Using the information in the horizontal analysis, identify the company that had the most improvement in net sales, gross profit margin and profit margin in 2020 and 2021.

		2021		2020
Net sales		MarigoldMartinez		MartinezMarigold
Gross profit		MartinezMarigold		MarigoldMartinez
Profit margin		MartinezMarigold		MartinezMarigold

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