Use the data for River City Fabrication, Inc., from P4-43A.

Requirements

1. Calculate the earnings per share for River City Fabrication for the year. Assume an average of 16,000 common shares were outstanding during the year. Round to the nearest cent.

2. The earnings per share for 2017 was $7.38. Did the earnings per share improve or deteriorate during 2018?

3. Calculate the gross profit percentage for River City Fabrication, Inc., for the year.

4. The gross profit percentage for 2017 was 61.2 percent. Did the gross profit percentage improve or deteriorate during 2018?

5. Calculate the net income percentage for River City Fabrication, Inc.

6. The net income percentage for 2017 was 28.6 percent. Did the net income percentage improve or deteriorate during 2018?

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Cost of Goods Sold.. Accumulated Depreciation, Equipment . Unearned Sales Revenue $164,300 Sales Revenue... $403,600 125,000 11,600 Equipment.. Accounts Payable... Estimated Inventory Returns.. Advertising Expense . Interest Expense Salaries Payable. Accounts Receivable. Building. . Estimated Refund 39,600 7,700 6,000 42,000 2,200 11,500 800 Prepaid Rent. Office Salaries Expense (General) .. Accumulated Depreciation, Building. Utilities Expense (General). Dividends.. Cash. . Retained Earnings, 12/31/2017. Delivery Expense.. Insurance Expense (General) Mortgage Payable (Long-Term). Supplies. 2,700 7,700 160,000 50,200 5,400 33,000 5,500 52,900 1,800 11,100 Liability . Common Stock. 3,900 40,000 Depreciation Expense (General) Inventory.. Commission Expense.. 14,000 29,800 30,400 39,000 700