1. Gross profit percent and markup percent

   Deere & Company (DE) produces and sells tractors, loaders, combines, lawnmowers, and a variety of other equipment. The following data (in millions) were adapted from recent financial statements of Deere.

   	Year 2	Year 1
   Sales	$115,053	$92,042
   Cost of goods sold	(75,360)	(55,685)
   Gross profit	$39,693	$36,357

   1. Compute the gross profit percent for Years 1 and 2. Round to one decimal place.

   	Gross Profit Percent
   Year 2
   Year 1

   2. Compute the average markup percent for Years 1 and 2. Round to one decimal place.

   	Average Markup Percent
   Year 2
   Year 1

   

from Year 1 to Year 2. 3. Deere & Company's financial performance These results should be compared to to see if they are consistent with a general economic