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The comparative financial statements prepared at December 3 1 , 2 0 1 7 , for Pinnacle Plus showed the following summarized data: 2 0

The comparative financial statements prepared at December 31,2017, for Pinnacle Plus showed the following summarized data:

20172016
Income Statement
Sales Revenue* $ 124,000 $ 113,000
Cost of Goods Sold 57,60053,600
Gross Profit 66,40059,400
Operating Expenses 40,20037,200
Interest Expense 3,6003,600
Income before Income Tax Expense 22,60018,600
Income Tax Expense (30%)6,7805,580
Net Income $ 15,820 $ 13,020
Balance Sheet
Cash $ 47,461 $ 13,740
Accounts Receivable, Net 33,00039,000
Inventory 32,00034,000
Property and equipment, Net 87,00097,000
Total Assets $ 199,461 $ 183,740
Accounts Payable $ 35,781 $ 30,180
Income Tax Payable 960460
Note Payable, Long-Term 36,00036,000
Total Liabilities 72,74166,640
Contributed Capital (9,000 shares)90,00090,000
Retained Earnings36,72027,100
Total Liabilities and Shareholders\' Equity $ 199,461 $ 183,740

One-half of all sales are on credit.
During 2017, cash dividends amounting to $6,200 were declared and paid.

Required:
1-a. Compute the gross profit percentage in 2017 and 2016.
2-a. Compute the net profit margin for 2017 and 2016.
3-a. Compute the earnings per share for 2017 and 2016
4-a. Shareholders\' equity totalled $100,000 at the end of 2015. Compute the return on equity (ROE) ratios for 2017 and 2016
5-a. Net property and equipment totalled $102,000 at the end of 2015. Compute the fixed asset turnover ratios for 2017 and 2016.
6-a. Compute the debt-to-assets ratios for 2017 and 2016.
7-a. Compute the times interest earned ratios for 2017 and 2016.
 
8-a. After Pinnacle Plus released its 2017 financial statements, the company\'s shares were trading at $27.80. After the release of its 2016 financial statements, the company\'s share price was $22.70 per share.  

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