it #8 Chapter 13 Saved Help Assume the average cost of computer equipment fell 21.6 percent between 2016 and 2017. Let's see whether these changes are reflected in the income statement of Computer Tycoon Inc. for the year ended December 31, 2017. Sales Revenues 2017 $98,000 2016 $122,233 Cost of Goods Sold 60, 200 73,340 Gross Profit 37,800 48,893 Selling, General, and Administrative Expenses 35,000 35,000 Interest Expense 525 410 Income Before Income Tax Expense 2,275 Income Tax Expense Net Income 1,500 13,483 4,788 $ 275 $ 8,695 Required: 1-a. Compute the gross profit percentage for each year. (Round your answers to 1 decimal place.) 2-a. Compute the net profit margin for each year. (Round your answers to 1 decimal place.) 2017 2016 Net profit % % es 2-b. Not available in Connect. 3-a. Computer Tycoon reported average net fixed assets of $55.700 in 2017 and $51.100 in 2016. Compute the fixed asset turnover ratios for both years. (Round your answers to 2 decimal places.) 2017 2016 Fixed asset turnover ratio times times Check m 2 ts Skipped 3-b. Not available in Connect. 4-a. Computer Tycoon reported average shareholders' equity of $55,500 in 2017 and $42,300 in 2016. Compute the return on equity ratios for both years. (Round your answers to 1 decimal place.) 2017 2016 eBook Return on equity (ROE) % Print eferences W 4-b. Did the company generate greater returns for shareholders in 2017 than in 2016? O Yes No < Prev 2 of 5 Next > lava Update Checker Checla Java Update Ava A new vesion of installst Gick here to con