Revenues Cost of Purchased Crude 011 and Products Other Operating costs Income before Income Tax Expense Income Tax Expense Net Income 2015 $140 20 65 15 2014 5210 120 60 30 10 520 $ 5 Required: 1. Compute the gross profit percentage for each year. Assuming that the change from 2014 to 2015 is the beginning of a sustained trend, is Chevron likely to earn more or less gross profit from each dollar of sales in 2016? 2. Compute the net profit margin for each year. Given your calculations here and in requirement 1. explain whether Chevron did a better or worse job of controlling expenses other than the costs of crude oil and products in 2015 relative to 2014 3. Chevron reported average net fixed assets of $185 billion in 2015 and $174 billion in 2014. Compute the fixed asset turnover ratios for both years. Did the company better utilize its investment in fixed assets to generate revenues in 2015 or 2014? 4. Chevron reported average stockholders' equity of $155 billion in 2015 and $153 billion in 2014. The company has not issued preferred stock Compute the return on equity ratios for both years. Did the company generate greater returns for stockholders in 2015 or 2014