The following data were extracted from the 2018 financial statements of New Way Automotive Corporation. This...

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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. Revenue Cost of sale Gross profit Operating income before taxes Net income Ending inventory December 31, 2018 $23,345.1 19,650.2 3,694.9 652.1 509.0 4,142.1 December 31, 2017 $21,946.9 18,444.4 3,502.5 594.2 665.3 4,048.1 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? 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. Revenue Cost of sale Gross profit Operating income before taxes Net income Ending inventory December 31, 2018 $23,345.1 19,650.2 3,694.9 652.1 509.0 4,142.1 December 31, 2017 $21,946.9 18,444.4 3,502.5 594.2 665.3 4,048.1 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?

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