Calculate the gross profit percentage and the net income percentage for the income statement of Harvey Company, Round to the nearest whole percentage.

Net Sales $1,300,000

Cost of Goods sold 750,000

Gross Profit $550,000 answer 1.) ______

Operating Expenses 312,000

Net Income 238,000 answer 2.) ______

Calculate the percentage increase or decrease over the previous year for the following unrelated items taken from the balance sheet of Rikke Company. Round tothe nearest whole precentage.

Year 2 Year 1

answer _____ 1.) Cash $158,000 $99,000

answer _____ 2.) Accounts Payable 65,000 70,000