How much higher or lower would New Way'searnings before taxeshave been in 2018 if its gross margin percentage had been the same as it was in 2017?(Enter your answer in millions of dollars.Round your answer to 1 decimal place.)

Chapter 5 Problem i Saved Help Save & Exit Subm Check my work The following data were extracted from the 2018 financial statements of New Way Automotive Corporation. This company operates automobile and commercial vehicle dealerships in many countries. The company had over 600 dealerships as of the end of 2018. Dollar amounts are in millions. 25 December 31, 2018 December 31, 2017 Revenue $23, 149. 1 points $21 , 750.9 Cost of sale 19 , 552 . 2 18 , 346.4 Gross profit 3, 596.9 3 , 404.5 Operating income before taxes 635.3 578 . 1 Net income 495. 7 647 . 1 Ending inventory 4, 106.4 4, 011.7 Book n Required References a. Compute New Way's gross margin percentage for 2018 and 2017. b. Compute New Way's average days to sell inventory for 2018 and 2017. c. How much higher or lower would New Way's earnings before taxes have been in 2018 if its gross margin percentage had been the same as it was in 2017? Complete this question by entering your answers in the tabs below. Req A to B Req C a. Compute New Way's gross margin percentage for 2018 and 2017. (Enter your answers as a percentage rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34).) b. Compute New Way's average days to sell inventory for 2018 and 2017. (Assume 365 days in a year. Do not round your intermediate calculations. Round your answers to the nearest whole number. ) Show less 2018 2017 a. Gross margin percentage 15.53 % 15.65 % Average days to sell inventory 77 days 80 days Mc Graw Prey. 1 of 2 Next >