Compute six ratios that measure McCormick Corporation's ability to earn profits. The company's comparative income statement follows. T (Click the icon to view the comparative income statement.) Did the company's operating performance improve or deteriorate during 2017? Cleo Fe 2017 $ 2016 $ 79,000 100,080 / $ 164,000 1 $ 180,080 Gross pront percentage 48.17 % 55.58 b. Calculate the operating income percentage for 2016 and 2017. Identify the formula, then calculate the operating income percentage. (Round the percentages to two decimal places, XXX%.) Operating income 2017 2016 $ 43,000 85,080 Net sales / $ 164,000 180,080 Operating income percentage 26.22 % 47.25 % c. Calculate the rate of return on net sales for 2016 and 2017. Identify the formula, then calculate the rate of return on net sales. (Round the percentages to two decimal places, X.XX%.) Net income Net sales 2017 2016 $ 16,564 11,255 1 $ 164,000 / $ 180,080 Return on net sales 10.10 6.25 % d. Calculate the rate of return on total assets for 2016 and 2017. Identify the formula, then calculate the rate of return on total assets. (Round the percentages to two decimal places, X.XX%.) Net income 2017 ( 2016 ( + Average total assets = Return on assets = %