[The following information applies to the questions displayed below.) The comparative financial statements prepared at December 31, 2015, for Prince Company showed the following summarized data: 2015 2014 Income statement: Sales revenue Cost of goods sold $190,000 112,000 $ 167,000 100,000 Gross profit Operating expenses and interest expense 78,000 56,000 67,000 53,000 Pretax income Income tax 22,000 8,000 14,000 4,000 Net Income $ 14,000 $ 10,000 Balance sheet: Cash Accounts receivable (net) Inventory Operational assets (net) $ 4,000 14,000 40,000 45,000 $ 7,000 18,000 34,000 38,000 $ 97,000 $103,000 Current liabilities (no interest) Long-term liabilities (10% interest) Common stock (par $5) Retained earnings $ 16,000 45,000 30,000 12,000 $ 17,000 45,000 30,000 5,000 $103,000 $ 97,000 "One-third was credit sales. 2. Respond to the following for 2015: (Round your answers to 1 decimal place.) a. What was the gross profit percentage? Gross profit % b. What was the income tax rate? Income tax rate % c. Compute the profit margin? Profit margin (net) % d. What percentage of total resources was invested in operational assets? Investment in operational assets % e. Compute the debt-to-equity ratio? Debt-to-equity f. What was the return on equity? Return on equity 9. What was the return on assets? Return on assets g. What was the return on assets? Return on assets % h. Compute the financial leverage percentage? Financial leverage percentage %