Sales Revenue Cost of Goods Sold Operating Expenses Mercedes, Company has the following quarterly financial information. 4th Quarter 3rd 2nd 1st Quarter Quarter Quarter $ 901,800 $ 911,300 $ 909,600 $ 917,400 304,500 317,100 316,700 321,900 247,700 259,100 257,300 261,400 Interest Expense 3,600 3,600 3,600 3,500 Income Tax Expense 84,300 87,200 87,200 89,700 Average Number of Common Shares 793,030 788,064 789,670 803,000 Outstanding Stock price when Q4 EPS released $ 24.00 Required: 1. Calculate the gross profit percentage for each quarter.