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Assume the average cost of computer equipment fell 21.6 percent between 2016 and 2017. Let's see whether these changes are reflected in the income statement of Computer Tycoon Inc. for the year ended December 31, 2017 Sales Revenues Cost of Goods Sold 2017 $100,000 61.500 2016 $124, 121 74,473 Gross Profit Selling, General, and Administrative Expenses Interest Expense 38,500 31,000 560 49,648 31,000 400 Income Before Income Tax Expense Income Tax Expense 6,940 3,000 18,248 5,742 Net Income $ 3,940 $ 12,506 Required: 1-a. Compute the gross profit percentage for each year. (Round your answers to 1 decimal place.) 2017 2016 Gross profit Gross profe 2010 1-b. Not available in Connect. 2-a. Compute the net profit margin for each year. (Round your answers to 1 decimal place.) 2017 2016 Net profie 2 017 2016 Net profit 2-b. Not available in Connect. 3-a. Computer Tycoon reported average net fixed assets of $70,500 in 2017 and $66,000 in 2016. Compute the fixed asset turnover ratios for both years. (Round your answers to 2 decimal places.) 2017 2016 Fixed asset turnover ratio times times 3-b. Not available in Connect 4-a. Computer Tycoon reported average shareholders' equity of $61,500 in 2017 and $48,300 in 2016. Compute the return on equity ratios for both years. (Round your answers to 1 decimal place.) 2017 2016 Return on equity (ROE) 4-b. Did the company generate greater returns for shareholders in 2017 than in 2016? Yes NO Assume the average price of a litre of gas in 2017 jumped $0.17 (16 percent) from $1.04 in 2016 to $1.21 in 2017. Let's see whether this change is reflected in the income statement of Suncor Energy Inc. for the year ended December 31, 2017 (amounts in billions). Total Revenues Costs of crude oil and Products Other Operating costs 2017 2016 $ 273 $ 221 171 133 5956 Income Before Income Tax Expense Income Tax Expense 4332 19 Net Income $ 24 $ 19 Required: 1-a. Conduct a horizontal analysis by calculating the year-over-year changes in each line item, expressed in dollars and in percentages. (Enter amounts in billions of dollars. Round your percentages to 1 decimal place.) SUNCOR ENERGY INC. Income Statements Change in Dollars Percentage Total revenues Costs of crude oil and products Other operating costs Income before income tax Income tax expense r Net income 2-a. Conduct a vertical analysis by expressing each line as a percentage of total revenues. (Round your answers to 1 decimal places.) 2016 SUNCOR ENERGY INC. Income Statements Change in 2017 Total revenues Costs of crude oil and products Other operating costs Income before income tax Income tax expense Net income %7 2-b. Excluding income tax and other operating costs, did Suncor earn more profit per dollar of revenue in 2017 compared to 2016? Yes No