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6) The following information comes from P Co.'s statements of earnings for 20x7 and 20X6: (In millions) Net sales Cost of sales 20X7 $22,348 $9,330

6) The following information comes from P Co.'s statements of earnings for 20x7 and 20X6: (In millions) Net sales Cost of sales 20X7 $22,348 $9,330 20x6 $20,917 $8,525 1. Compute the gross profit percentage for a. 20X7 b. 20X6 2. Provide at least two potential reasons for the change in P Co's gross profit percentage

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