Use the information for Suncor Energy Inc. in E13-1 to complete the following requirements.

Refer to E13-1,

The average price of a litre of gas in 2011 jumped $0.17 (16 percent) from $1.04 in 2010 to $1.21 in 2011. Let's see whether these changes are reflected in the income statement of Suncor Energy Inc. for the year ended December 31, 2011 (amounts in billions).

Required
1. Compute the gross profit percentage for each year (one decimal place). Assuming that the change for 2010 to 2011 is the beginning of a sustained trend, is Suncor likely to earn more or less gross profit from each dollar of sales in 2012?
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 Suncor did a better or worse job of controlling expenses other than the costs of crude oil and products in 2011 relative to 2010.
3. Assume Suncor reported average net fixed assets of $85 billion in 2011 and $74 billion in 2010. Compute the fixed asset turnover ratios for both years (rounded to two decimal places). Did the company better utilize its investment in fixed assets to generate revenues in 2011 or 2010? 

4. Assume Suncor reported average shareholders' equity of $82 billion in 2011 and $73 billion in 2010. Compute the return on equity ratios for both years (expressed as a percentage with one decimal place). Did the company generate greater returns for shareholders in 2011 or 2010?

2011 2010 $273 Total Revenues Costs of Crude COil and Products Other Operating Costs Income before Income Tax Expense Income Tax Expense $221 171 59 133 56 43 19 32 13 $ 19 $ 24 Net Income