The average price of a gallon of gas in 2018 increased $0.30 (12.4 percent) from $2.42 in 2017 to $2.72 in 2018. Let's see whether these changes are reflected in the income statement of Daisy Petrolum Industries for the year ended December 31,2018 (amounts in billions). Required: 1. Compute the gross profit percentage for each year. Assuming that the change from 2017 to 2018 is the beginning of a sustained trend, is Daisy likely to eam more or less gross profit from each dollar of sales in 2019 ? 2. Compute the net profit margin for each year. Did Daisy do a better or worse job of controlling expenses other than the costs of crucde oil and products in 2018 relative to 2017. 3. Daisy reported average net fixed assets of $362 billion in 2018 and $360 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? 4. Daisy reported average stockholders' equity of $172 billion in 2018 and $168 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? Complete this question by entering your answers in the tabs below. 1-a. Compute the gross profit percentage for each year. (Round percentage values to 1 decimal place.) 1-b. Assuming that the change from 2017 to 2018 is the beginning of a sustained trend, is Daisy likely to earn more or less gross profit from each dollar of sales in 2019? Complete this question by entering your answers in the tabs below. 2-a. Compute the net profit margin for each year. (Round percentage values to 1 decimai place.) 2-b. Did Daisy do a better or worse job of controlling expenses other than the costs of crude oil and products in 2018 relative to 2017. Complete this question by entering your answers in the tabs below. 3-a. Daisy reported average net hixed assets of $362 bilion in 2018 and $360 bilion in 2017 . Compute the fured asset tumover-ratios for both years. (Round your answers to 2 decimal placesi) 3-b. Oid the company better utilire its investment in fixed assets to generate revenues in 2018 or 20177 Complete this question by entering your answers in the tabs below. 4-a. Daisy reported average stockholders' equity of $172 billion in 2018 and $168 billion in 2017. The company has not issued preferred stock. Compute the return on equity ratios for both years. (Round percentage values to 1 decimal place.) 4-b, Oid the company generate greater returns for stockholders in 2018 or 2017