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Assume the average cost of computer equipment fell 17.0 percent between 2012 and 2013. Let's see whether these changes are reflected in the income statement
Assume the average cost of computer equipment fell 17.0 percent between 2012 and 2013. Let's see whether these changes are reflected in the income statement of Computer Tycoon Inc. for the year ended December 31, 2013 2013 2012 Sales Revenues Cost of Goods Sold $101,500 $125,301 62,000 75,181 39,500 30,500 590 50,120 30,500 488 Gross Profit Selling, General, and Administrative Expenses Interest Expense Income before Income Tax Expense Income Tax Expense 8,410 5,082 19,132 6,339 Net Income $ 3,328 12,793 Required 1-a. Compute the gross profit percentage for each year. (Round your answers to 1 decimal place.) 2013 2012 Gross profit
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