Use the data for Northeast Industries, Inc., from P4-41A.

Requirements
1. Calculate the gross profit percentage for Northeast Industries, Inc., for the year.
2. The gross profit percentage for 2011 was 58.6%. Did the gross profit percentage improve or deteriorate during 2012?
3. Calculate the net income percentage for Northeast Industries, Inc.
4. The net income percentage for 2011 was 21.3%. Did the net income percentage improve or deteriorate during2012?

e$320,000 Equipment..13800 Sales Revenue.. $119,600 145,000 Accumulated Depreciation 26,400 5,900 2,500 52,000 Accounts Payable Sales Discounts Advertising Expense. Interest Expense Salaries Payabl. Accounts Receivable.. Building Sales Returns and Equipment 3,300 Unearned Sales Revenue.... 13,300 Prepaid Rent 1,100 1,300 7,200 Office Salaries Expense Accumulated Depreciation 40,500 3,800 8,000 18,000 Building 190,000 Utilities Expense Dividends Allowances Common Stock Depreciation Expense 6,700 Cash 45,000 Retained Earnings, 7/31/2011 Delivery Expense. 1,500 4,600 (General) Inventory Commission Expense.. 14,000 Insurance Expense 28,000 Mortgage Payable (Long-Term) Supplies 35,000 1,000 ....41,000