Use the data from S4-11 to calculate the gross profit percentage and the net income percentage for The Skate Shed, Inc., for 2016?

data from S4-1

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Cost of Goods Sold. Equipment, Net. Accrued Liabilities. Net Sales Revenue Accounts Receivable. Prepaid Rent. Interest Expense $21,000 25,700 2,475 41,500 3,100 1,200 375 $2,750 6,475 4,800 6,025 Cash. Total Operating Expenses. Accounts Payable.. Total Stockholders' Equity Long-Term Notes Payable.. 23,000 4,700 1,150 Inventory. Salaries Payable.