SIOWA Express, Inc. Income Statement Petroleum sales Merchandise sales Interest income Petroleum cost of goods sold Merchandise cost of goods sold Station operating expenses Selling and administrative expenses Depreciation and amortization Income tax expense Interest expense Loss on sale of equipment $ 10,425,523 2,273,888 2,177 (9,794,475) (1,946,423) (486,383) (130,798) (86,568) (80,698) (33,531) 5,121 $ 137,591 Net income Answer each of the following questions related to the SIOWA Express financial statements SIOWA operates three convenience stores in Louisa County A. Calculate the 2017 gross profit percentage on merchandise sales B. Calculate the 2017 gross profit percentage on petroleum sales C. Would you recommend that SIOWA's management focus on expanding merchandise sales or petroleum sales? Explain why. D. Calculate the net profit margin for 2017