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2 Assume the average cost of computer equipment fell 17.5 percent between 2016 and 2017. Let's see whether these changes are reflected in the income statement of Computer Tycoon Inc. for the year ended December 31, 2017 5 points Sales Revenues Cost of Goods Sold 2017 $99, 100 61,100 2016 $117,488 70,493 eBook Gross Profit Selling, General, and Administrative Expenses Interest Expense 38,000 32,300 570 46,995 32,300 448 Print References Income Before Income Tax Expense Income Tax Expense 5,130 2,800 14,247 4,545 Net Income $ 2,330 $ 9,702 Required: 1-a. Compute the gross profit percentage for each year. (Round your answers to 1 decimal place.) 2017 2016 Gross profit % 1-b. Not available in Connect 2 2-8. Compute the net profit margin for each year. (Round your answers to 1 decimal place.) 2017 2016 5 points Net profit % % eBook Print References 2-b. Not available in Connect. 3-a. Computer Tycoon reported average net fixed assets of $60,200 in 2017 and $60,000 in 2016. Compute the fixed asset turnover ratios for both years. (Round your answers to 2 decimal places.) 2017 2016 Fixed asset turnover ratio times times 3-b. Not available in Connect. 2 ratios for both years. (Round your answers to 2 decimal places.) 2017 2016 Fixed asset turnover ratio times times 5 points eBook Print 3-b. Not available in Connect. References 4-e. Computer Tycoon reported average shareholders' equity of $60,000 in 2017 and $46,800 in 2016. Compute the return on equity ratios for both years. (Round your answers to 1 decimal place.) 2017 2016 Return on equity (ROE) % % 4.b. Did the company generate greater returns for shareholders in 2017 than in 2016? Yes No