1 Balance sheet Trust Corporation reported these hgures Click the icon 10 view lhe balance sheel (Click the 'uon tu v ew lhB incorne slalernen Ti ust Corporation has 3,000,000 shales ofmrnon stock outstanding lls stock has traded 'ocuntly at $27.20 pe' share. You Read the renuitm i Income statement Trust Corporation Balance Sheets December 31, 2017 and 2016 (amounts in thousands) Income Statement For the Year Ended December 31, 2017 (amounts in thousands) e. Gross profit percentage Enter the tomula on the first line, then calculate the gross protit percentage on the next line (Enter amounts in thousands as p 2017 2016 Gross profit percentage 2017 Assets Saks revenuc Less: Cost ot goods sold Gross prof Less Operating expenses Operaling income Less Interest expense Income before income taxes Less Income tax expense Net income S 16,060 Current assets % 0t each sales dollar is gross pott tor the company I his is a gross proht percentage but should he compared S 2,730 S 2.400 10,280 2,630 S 7,650 300 S 7,350 4,800 S 2,550 to the f. Operg income percenlage Enter the formula on the first line, then calculate the operating income percentage on the next line. (Enter amounts in thousands a 2.400 1,900 900 to better determine if it is reasonable Inventory 1,500 2,150 S ,050 19,000 Other current assets Tolal current assets Other assets Tolal assels S 7,030 - Operating income percentage 21,500 5 29 330 TD5 %Of each sales dollar is income for the company. This is operating income percentage but should be c to the to better deternine if it is reasonabk Liabilities