The average price of a gallon of gas in $2018$ increased $$0\mathrm{.}30(12\mathrm{.}4$ percent$)$ from $$2\mathrm{.}42$ in $2017$ to $$2\mathrm{.}72$ in $2018.$ Let$$s see whether these changes are reflected in the income statement of Bronze, Incorporated for the year ended December $31,2018($amounts in billions$).$

$20182017$

Revenues $ $306$ $ $260$

Costs of Purchased Crude Oil and Products $175139$

Other Operating Costs $92104$

Income before Income Tax Expense $3917$

Income Tax Expense $11$

Net Income $ $28$ $ $17$

Required:

Compute the gross profit percentage for each year. Assuming that the change from $2017$ to $2018$ is the beginning of a sustained trend, is Bronze likely to earn more or less gross profit from each dollar of sales in $2019?$

Compute the net profit margin for each year. Did Bronze do a better or worse job of controlling expenses other than the costs of crude oil and products in $2018$ relative to $2017.$

Bronze reported average net fixed assets of $$382$ billion in $2018$ and $$380$ billion in $2017.$ Compute the fixed asset turnover ratios for both years. Did the company better utilize its investment in fixed assets to generate revenues in $2018$ or $2017?$

Bronze reported average stockholders$$ equity of $$192$ billion in $2018$ and $$188$ billion in $2017.$ The company has not issued preferred stock. Compute the return on equity ratios for both years. Did the company generate greater returns for stockholders in $2018$ or $2017?$