The comparative financial statements prepared at December 31, 2014, for Pinnacle Plus showed the following summarized data: 2014 2013 Income Statement Sales Revenue Cost of Goods Sold $126,000 58,400 $ 115,000 54,400 ices Gross Profit Operating Expenses Interest Expense 67,600 40,800 3,400 60,600 37,800 3,400 Income before Income Tax Expense Income Tax Expense (30%) 23,400 19,400 7020 5,820 w Net Income $ 16,380 $ 13,580 Balance Sheet Cash $ 48,091 $ 14.980 Balance Sheet Cash Accounts Receivable, Net Inventory Property and equipment, Net $ 48,091 31,000 33,000 83,000 $ 14,980 40,000 32,000 93,000 Total Assets $ 195,091 $179,980 Accounts Payable Income Taxes Payable Note Payable, Long-Term $ 31,871 940 34,000 $ 27,640 440 34,000 Total Liabilities Contributed Capital (9,100 shares) Retained Earningst 66,811 91.000 37,280 62,080 91,000 26,900 Total Liabilities and Shareholders' Equity $ 195,091 $179.980 * One-half of all sales are on credit During 2014, cash dividends amounting to $6.000 were declared and paid. Required: 1-a. Compute the gross profit percentage in 2014 and 2013. (Round your answers to 1 decimal place.) Gross Profit Percentage 2014 2013 Book erences 1-b. Is the trend going in the right direction? Yes O No a 2-a. Compute the net profit margin for 2014 and 2013. (Round your answers to 1 decimal place.) Net Profit Margin 2014