Ashley Enterprises reports the following information on its income statement: Net sales Cost of goods sold 170,000 Other income Selling expenses 50,000 Other expense 300,000 Administrative expenses $20,000 15,000 10,000 Required Calculate Ashley's gross profit percentage and return on sales ratio. Ashley is planning to add a new product and expects net sales to be $32,000 and cost of goods to be $26,000. No other income or expenses are expected to change. How will this affect Ashley's gross profit percentage and return on sales ratio? (Round all answers to 1 decimal place.) Gross Profit Percentage 43.3 % Return on Sales X% F NEW PRODUCT IS MADE Gross Profit Percentage Return on Sales X%