Selected financial information of Wanna Prosche 911 Corporation is as follows:

Sales revenue and Cost of goods sold for the year ended December 31, 2020 were $250,000 and $200,000, respectively.

Sales revenue and Cost of goods sold for the year ended December 31, 2019 were $180,000 and $90,000, respectively.

Net income was $50,000 and $25,000 for the years ended December 31, 2020 and 2019, respectively.

The balance sheet at December 31, 2020 had assets of $250,000 and liabilities of $50,000

1. What is the gross profit and gross profit percentage for each year? (3 Points)