The following data are based on information in the 2018 annual report of Cracker Barrel Old Country Store. As of August 3, 2018, Cracker Barrel operated 655 restaurants and gift shops in 45 states. Dollar amounts are in thousands.

Required

a. Calculate the company’s net income and retained earnings for 2017 and 2018.

b. Which increased (or decreased) by the greatest percentage amount: revenues or net income? Show your computations.

c. For each year, calculate the company’s net income as a percentage of its revenues. Show your computations.

d. Did the company perform better in 2017 or 2018? Explain your answer.

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2018 2017 $1,527,355 945,574 581,781 3,030,445 $1,521,942 977,435 544,507 Assets Liabilities Stockholders' equity Revenues 2,926,289 Expenses 2,782,825 207,649 2,724,390 Dividends 197,544 Retained earnings at end of 2016 488,481