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The comparative financial statements prepared at December 31, 2017 for Pinnacle Plus showed the following summarized data: 2017 2016 Incone Statement Sales Revenue* Cost of Goods Sold $112,000 52,800 $101,000 48,800 Gross Profit Operating Expenses Interest Expense 59,200 36,600 4,200 52,200 33,600 4,200 Income before Income Tax Expense Income Tax Expense (30%) 18,400 5,520 14,400 4,320 Net Income $ 12,880 $ 10,080 Balance Sheet Cash Accounts Receivable, Net Inventory Property and equipment, Net $ 54,687 $ 17,500 39,000 33,000 26,000 40,000 99,000 109,000 Total Assets $218,687 $199,500 Accounts Payable Income Tax Payable Note Payable, Long-Term $ 50,887 $ 38,280 1,020 520 42,000 42,000 Total Liabilities Contributed Capital (9,100 shares) Retained Earningst Total Liabilities and Shareholders' Equity 93,907 91,000 33,780 80,800 91,000 27,700 $218,687 $199,500 One-half of all sales are on credit. During 2017, cash dividends amounting to $6,800 were declared and paid. Required: 1-a. Compute the gross profit percentage in 2017 and 2016. (Round your answers to 1 decimal place.) Gross Profit Percentage 2017 2016 1-b. Is the trend going in the right direction? Yes No 2-a. Compute the net profit margin for 2017 and 2016. (Round your answers to 1 decimal place.) Net Profit Margin 2017 2016 2-b. Is the trend going in the right direction? No Yes 3-a. Compute the earnings per share for 2017 and 2016. (Round your answers to 2 decimal places.) Earnings per Share 2017 2016 3-a. Compute the earnings per share for 2017 and 2016. (Round your answers to 2 decimal places.) Earnings per Share 2017 2016 3-b. Does the trend look good or bad? Bad Good 4-a. Shareholders' equity totalled $100,000 at the end of 2015. Compute the return on equity (ROE) ratios for 2017 and 2016. (Round your answers to 1 decimal place.) Return on Equity 2017 2016 4-b. Is the trend going in the right direction? Oo 5-a. Net property and equipment totalled $114,000 at the end of 2015. Compute the fixed asset turnover ratios for 2017 and 2016. (Round your answers to 2 decimal places.) Fixed Asset Turnover 2017 2016 5-b. Is the trend going in the right direction? Yes No 6-a. Compute the debt-to-assets ratios for 2017 and 2016. (Round your answers to 2 decimal places.) Debt-to- Assets 2017 2016 6-b. Is debt providing financing for a larger or smaller proportion of the company's asset growth? Larger proportion Smaller proportion 7-a. Compute the times interest earned ratios for 2017 and 2016. (Round your answers to 1 decimal place.) Times Interest Earned times 2017 2016 times 7-b. Does the outcome of ratio in 2017 appears to be good or bad for the company? Bad Good 8-a. After Pinnacle Plus released its 2017 financial statements, the company's shares were trading at $35.30. After the release of its 2016 financial statements, the company's share price was $29.50 per share. Compute the P/E ratios for both years. (Round intermediate calculations to 2 decimal places and final answers to 1 decimal place.) Price: Earnings 2017 2016 2016 - 8-b. Does it appear that investors have become more or less) optimistic about Pinnacle's future success? Less optimistic More optimistic