Assume the average cost of computer equipment fell 23.1 percent between 2016 and 2017. Let's see whether these changes are reflected in the income statement of Computer Tycoon Inc. for the year ended December 31, 2017 Sales Revenues Cost of Goods Sold 2017 $98,400 60,400 2016 $126, 108 75,665 Gross Profit Selling, General, and Administrative Expenses Interest Expense 38,000 34,000 530 50,443 34,000 420 Income Before Income Tax Expense Income Tax Expense 3,470 1,910 16,023 5,544 Net Income $ 1,560 $ 10,479 Required: 1-a. Compute the gross profit percentage for each year. (Round your answers to 1 decimal place.) 2017 2016 Gross profit 2-a. Compute the net profit margin for each year. (Round your answers to 1 decimal place.) 2017 2016 Net profit % % 2-b. Not available in Connect 3-a. Computer Tycoon reported average net fixed assets of $56,700 in 2017 and $55100 in 2016. Compute the fixed asset turnover ratios for both years. (Round your answers to 2 decimal places.) 2017 2016 Fixed asset turnover ratio times times 4-a. Computer Tycoon reported average shareholders' equity of $56,500 in 2017 and $43,300 in 2016. Compute the return on equity ratios for both years. (Round your answers to 1 decimal place.) 2017 2016 Return on equity (ROE) % 4-6. Did the company generate greater returns for shareholders in 2017 than in 2016? O Yes O No