Required 1 Required 2 Required 3 Required 4 Required 5 Required 6 Required 7 Required 8 4-a. Stockholders' equity totaled $114,000 at the beginning of the previous year. Compute the return on equity (ROE) ratios for the current and previous years. (Round your answers to 1 decimal place.) 4-5. Are the current year results better, or worse, than those for the previous year? 4-a. Return on Equity Current Year 9% Previous Year % 4-6. Current year return on equity ratio? Better Worse acer Pinnacle Plus declared and paid a cash dividend of $8,000 in the current year. Its comparative fina December 31, reported the following summarized information: Current Year Previous Year $180,000 89, 900 100,000 50,000 5, 400 44,600 13, 380 $ 31, 220 $155,000 76,300 79,000 44,200 5,400 29, 400 8,820 $ 20,580 Income Statement Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Interest Expense Income before Income Tax Expense Income Tax Expense (30%) Net Income Balance Sheet Cash Accounts Receivable, Net Inventory Property and Equipment, Net Total Assets Accounts Payable Income Tax Payable Note Payable (long-term) Total Liabilities Common Stock (par $10) Retained Earnings Total Liabilities and stockholders' Equity $ 87, 770 31,000 39,000 109,000 $266, 770 $ 56,000 1, 350 54,000 111,350 98, 400 57,620 $266, 770 $ 24,000 26,000 52,000 119,000 $221, 000 $ 33,600 1,200 54, 000 88,888 98,400 33,800 $221,000 Required: 1. Compute the gross profit percentage in the current and previous years. Are the current year results the previous year?