Question: Choi Group sells padlocks. It reported an increase in net sales from $3.9 billion in 2017 to $4.2 billion in 2018, and an increase in

Choi Group sells padlocks. It reported an increase in net sales from $3.9 billion in 2017 to $4.2 billion in 2018, and an increase in gross profit from $1.1 billion in 2017 to $1.3 billion in 2018.

Calculate each years gross profit percentage. (Round your answers to 1 decimal place.)
The change in gross profit represents:

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