1-a. Compute the gross profit percentage for each year. Note: Round percentage values to 1 decimal place. 1-b. Assuming the change from 2017 to 2018 is the beginning of a sustained trend, is Daisy likely to earn more or less gross profit from each doliar of sales in 2019 ? 3-a. Daisy reported average net fixed assets of $346 billion in 2018 and $344 billion in 2017 . Compute the fixed asset turnover ratios for both years. Note: Round your answers to 2 decimal places. 3-b. Did the company better utilize its investment in fixed assets to generate revenues in 2018 or 2017 ? 4-a. Daisy reported average stockholders' equity of $156 billion in 2018 and $152 billion in 2017 . The company has not issued preferred stock. Compute the return on equity ratios for both years. Note: Round percentage values to 1 decimal place. 4-b. Did the company generate greater returns for stockholders in 2018 or 2017? The overage price of a gallon of gas in 2018 increased $0.30 (12.4 percent) from $2.42 in 2017 to $2.72 in 2018 . Let's see whether these changes are reflected in the income statement of Daisy Petrolum industries for the year ended December 31 , 2018 (amounts in bililions). Required: 1. Compute the gross profit percentoge for each year. Assuming the change from 2017 to 2018 is the beginning of a sustained trend, is Daisy likely to earn more or less gross profit from each dollar of sales in 2019 ? 2. Compute the net profit margin for each yeat, Oid Daisy do a better or worse job of controling expenses other than the costs of crude oll and products in 2018 relative to 2017 ? 3. Daisy reported averoge net fired assets of $346 bullion in 2018 and $344 billion in 2017 . Compute the fixed asset turnover ratios for both years. Did the company better utilize its investment in fixed assets to generate revenues in 2018 or 2017 ? 4. Daisy reported average stockholders' equity of $156 bilion in 2018 and $152 bllion in 2017 . The company has not issued preferred stock. Compute the return on equily ratios for both years. Did the company generate greater retums for stockholders in 2018 or 20m 2-a. Compute the net profit margin for each year. Note: Round percentage values to 1 decimal place. 2 -b. Did Daisy do a better or worse job of controlling expenses other than the costs of crude oil and products in 2018 relative to 2017