The comparative financial statements prepared at December 31 for Golden Corporation showed the following summarized data Current Previous Income Statement Sales revenue Cost of goods sold $220,000 $197,000 116,000 126,000 Gross profit Operating expenses Interest expense 94,000 61,300 3,500 81,000 56,800 3,400 Income before income taxes Income tax expense 29,200 8,760 20,800 3,800 Net income $ 20,440 17,000 Balance Sheet Cash Accounts receivable (net) Inventory Property and equipment (net) S 6,140 S8,800 27,000 43,000 46,000 27,000 48,000 53,000 $134,140 $124,800 Current liabilities Note payable (long-term) Common stock (par 55) Additional paid-in capital Retained earnings* $ 16,500 53,000 34,800 6,600 23,240 24,600 53,000 34,800 5,800 6,600 $134,140 124,800 During the current year, cash dividends of $3,800 were declared and paid Required: 1-a. Compute the gross profit percentage for the current and previous years. (Round your answers to 1 decimal place.) ross Profi Percentage Current Year Previous Year 1-b. Are the current year results better, or worse, than those for the previous year? O Better O Worse