The comparative financial statements prepared at December 31 for Pinnacle Plus showed the following summarized data: Current Year Previous Year Income Statement $225,000 $191,000 98,000 94,000 Sales Revenue Cost of Goods Sold 127,000 Gross Profit 97,000 59,000 Operating Expenses 51,400 Interest Expense 6.300 6,300 Income before Income Tax Expense 61,700 39,300 Income Tax Expense (30%) 18,510 11,790 Net Income 43,190 27,510 Balance Sheet 99,515 15,000 Cash Accounts Receivable, Net 40,000 35,000 Inventory 48,000 61,000 128,000 118,000 Property and Equipment, Net Total Assets $305,515 $239,000 65,000 32,700 Accounts Payable Income Tax Payable 1,575 1,650 63,000 Note Payable (long-term) 63.000 129,575 Total Liabilities 97,350 103,800 103,800 Common Stock (par$10) 37,850 72,140 Retained Earnings Total Liabilities and Stockholders' Equity $305,515 $239,000 t During the current year, cash dividends amounting to $8,900 were declared and paid. Required 1-a. Compute the gross profit percentage in the current and previous years. (Round your answers to 1 decimal place.) Gross Profit Percentage Current Year Previous