Use the information for Chevron Corporation in E13-1 to complete the following requirements.

Required:
1. Compute the gross profit percentage for each year (rounded to one decimal place). Assuming that the change from 2009 to 2010 is the beginning of a sustained trend, is Chevron likely to earn more or less gross profit from each dollar of sales in 2011?
2. Compute the net profit margin for each year (expressed as a percentage with one decimal place). Given your calculations here and in requirement 1, explain whether Chevron did a better or worse job of controlling expenses other than the costs of crude oil and products in 2010 relative to 2009.
3. Chevron reported average net fixed assets of $100 billion in 2010 and $94 billion in 2009. Compute the fixed asset turnover  ratios for both years (round to two decimal places). Did the company better utilize its investment in fixed assets to generate revenues in 2010 or 2009?
4. Chevron reported average stockholders' equity of $99 billion in 2010 and $89 billion in 2009. Compute the return on equity ratios for both years (expressed as a percentage with one decimal place). Did the company generate greater returns for stockholders in 2010 or2009?

2010 2009 Total Revenues Costs of Crude Oil and Products Other Operating Costs Income before Income Tax Expense Income Tax Expense Net Income $205 116 57 32 13 $ 19 $172 100 53 19 $11