Caterpillar Inc. produces and sells various types of equipment, including tractors, loaders, and mining equipment. The following data (in millions) were adapted from recent financial statements of Caterpillar.

1. Compute the gross profit percent for Years 1 and 2. Round to one decimal place.
2. Compute the average markup percent for Years 1 and 2. Round to one decimal place.
3. Compute the ratio of sales to assets for Years 1 and 2. Round to two decimal places.
4. Compare the results in parts (1), (2), and (3) for Years 1 and 2. Comment on yourcomparison.

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Net sales Cost of merchandise sold Gross profit Average total assets "Excluding long-term investments Year 2 Year 1 $60,138 $42,588 44,404 31,281 $15,734 $11,307 $60,017 $49,241