a. Gross profit percentage b. Operating income percentage c. Rate of return on net sales d. Rate of return on total assets e. Rate of return on common stockholders' equity f. Earnings per share of common stock D 2018 1 McCormick Corporation 2 Income Statement 3 For the Years Ended December 31, 2020 and 2019 4 (amounts in thousands) 5 2020 2019 6 Sales revenues $ 116,650 $ 139,250 7 Less: Cost of goods sold 65,000 58,000 8 Gross profit $ 51,650 $ 81,250 9 Less: Operating expenses 21,000 24,000 10 Operating income $ 30,650 $ 57,250 11,000 10,000 20,650 $ $ 46,250 35,110 4,319 16,331 $ $ 11,140 11 Less: Interest expense 12 Income before income taxes 13 Less: Income tax expense 14 Net income 15 16 Additional data: 17 Total assets 18 Common stockholders' equity 19 Preferred dividends 20 Common shares outstanding during the year $ $ 202,000 $191,000 $ 178,000 89,000 $ 89,000 $ 61,000 3,070 $ 3,070 $ 14,900 14,900 14,000 $ 0 Compute six ratios that measure McCormick Corporation's ability to earn profits. The company's comparative income statement follows. The data for 2018 are given as needed. (Click the icon to view the comparative income statement.) Did the company's operating performance improve or deteriorate during 2020? a. Calculate the gross profit percentage for 2019 and 2020. Identify the formula, then calculate the gross profit percentage. (Round the percentages to two decimal places, X.XX%.) Gross profit percentage 2020 % 2019 % Average common equity Average total assets Cost of goods sold Current assets Current liabilities Gross profit Help m Interest expense more help Media - Clear all Check a