Required information [The following information applies to the questions displayed below.] The income statement for Pruitt Company summarized for a four-year period shows the following: Sales revenue Cost of goods sold Gross profit Expenses Pretax income Income tax expense (30%) Net income 2016 $2,041,000 1,503,000 2017 $2,452,000 2018 $2,716,000 2019 $2,990,000 1,620,000 1,770,000 2,100,000 538,000 832,000 946,000 890,000 471,000 509,000 534,000 538,000 67,000 323,000 412,000 352,000 20,100 96,900 123,600 105,600 $46,900 $226,100 $288,400 $246,400 An audit revealed that in determining these amounts, the ending inventory for 2017 was overstated by $23,000. The company uses a periodic inventory system. 2. Compute the gross profit percentage for each year before the correction and after the correction. Note: Round your answers to the nearest whole percent. 2016 2017 2018 2019 Before correction % % % % After correction % % % %