Question: E 5 - 1 5 Refer to E 5 - 1 2 and E 5 - 1 3 . After completing Star City Research's income

E5-15 Refer to E5-12 and E5-13. After completing Star City Research's income statement for the year ended December 31,2023, compute these ratios to evaluate Star City Research's performance:1. Gross margin percentage2. Inventory turnover (ending inventory 1 year earlier, at December 31,2022, was $54,500)mpare your figures with the 2022 gross margin percentage of 40.13 percent and the inventory tumover e of 3.82 times. Does the 2-year trend suggest that Star City Research's profits are increasing or creasing?

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