Chapter 6 Assessment 7 Required information. [The following information applies to the questions displayed below.] Saved The following data were provided by Mystery Incorporated for the year ended December 31: Part 3 of 3 Cost of Goods Sold Income Tax Expense Merchandise Sales (gross revenue) for Cash Merchandise Sales (gross revenue) on Credit office Expenses Sales Returns and Allowances Salaries and Wages Expense $171,000 19,530 252,000 44,400 19,600 7,410 42,600 3. Did the gross profit percentage in the current year improve, or decline, relative to the 39% gross profit percentage in the prior year? O Improve O Decline