M13-6 (Algo) Inferring Financial Information Using Gross Profit Percentage and Year-over-Year Comparisons [LO 13-2, 13-4] A consumer products company reported a 25 percent increase in sales from last year to this year. Sales last year were $120,000. This year, the company reported Cost of Goods Sold in the amount of $91,200. What was the gross profit percentage this year? Numerator Denominator Gross Profit Percentage Gross Profit Sales