Below are some summary numbers for a firm for fiscal years 2004 and 2005 (in millions of dollars). (Ctrl) Data/year sales Cost of goods sold Gross profit Operating expenses Net operating income 2004 12257 10000 2257 2005 12867 9000 2867 2769 98 1399 858 Average total assets Average equity 4903 3503 4949 2149 using the common size analysis ,operating expenses ratio for year 2005 * will be 21.52% 11.41% O 7% 8% using year-to-year analysis the %change of 2005 sales will be 16.1% 10% 4.97% 100.4% In a trend income statement for 2004, where 2004 is the base year, sales :are expressed as 104% 100% 100.4% 111% O while using the common size analysis it found that the % of cost of goods sold for the year 2006 is equal 80% and the sales amount for the year is $120000. what will be the gross profit amount for the year 2006 will be * amount $24000 O $76000 $120000 $80000 * return on equity (ROE) for 2005 is equal 1.98% 24.49% O 4.56% O 17.49% * return on assets (ROA) for 2005 is equal 1.98% 24.49% 4.56% 17.49%