HW Score: 09 Question Score: 0 of 1 pt 5 of 6 (complete E14-19A (similar to) Compute si ratios that measure Varine Corporation's ability to com profits. The company's comparative Income statement flows. The data for 2015 are given as needed (Click the icon to view the comparative Income statement) Did the company's operating performance improve or deteriorate during 2017? Calculate the gross profit porcentage for 2016 and 2017 Identify the formula, then calculate the gross profil percentage. (Round the percentages to wo decimal places, XXX%) Gross profit percentage 2017 % 2018 atid Income statement ma ve 2017 2016 2015 Sales revenues al ofit $ Less: Cost of goods sold Gross profit Less: Operating expenses Operating income Less: Interest expense Income before income taxes 172,240 $ 96,000 76,240 $ 46,000 30,240 S 9,500 20,740 $ 3,516 156,250 87,000 69,250 41,000 28,250 10,500 $ $ Less: Income tax expense 17.750 4,875 Net income S 17,224 $ 12,875 $ Additional data: Total assets Common stockholders' equity Preferred dividends Common shares outstandina during the year $ 210,000 $ 98,000 $ 3,460 $ 176,000 88,000 198,000 $ 87.000 $ 3.460 S 18.600 $ 0 18.600 7thd 17.000 Print Done