Sellall Department Stores reported the following amounts in its adjusted trial balance prepared as of its December 31 year-end: Administrative Expenses, $1,400; Cost of Goods Sold, $29,900; Income Tax Expense, $2,100; Interest Expense, $2,600; Interest Revenue, $300; General Expenses, $1,600; Net Sales Revenue, $46,000; and Delivery (freight-out) Expense, $400.

1. Calculate the gross profit percentage.

2. How has Sellall performed, relative to the gross profit percentage in the year 2017 reported at 24.9% for Walmart? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer.)

Worksheet Numerator Denominator Sellall Department Stores earned a higher gross profit percentage than Walmart. Walmart earned a higher gross profit percentage than Sellall Department Stores. Sellall includes more mark-up in the prices it charges customers than Walmart. Walmart includes more mark-up in prices it charges customers than Sellall. Sellall is more successful than Walmart. Walmart is more successful than Sellall