[The following information applies to the questions displayed below.) The income statement for Pruitt Company summarized for a four-year period shows the following: Sales revenue Cost of goods sold Gross profit Expenses Pretax income Income tax expense (358) Net income 2016 $ 2,037,000 1,491,000 546,000 475,000 71,000 24,850 $ 46,150 2017 $ 2,466,000 1,612,000 854,000 497,000 357,000 124,950 $ 232,050 2018 $ 2,711,000 1,767,000 944,000 537,000 407,000 142,450 $ 264,550 2019 $ 2,977,000 2,098,000 879,000 528,000 351,000 122,850 $ 228,150 An audit revealed that in determining these amounts, the ending inventory for 2017 was overstated by $25,000. The company uses a periodic inventory system. 2. Compute the gross profit percentage for each year before the correction and after the correction (Round your answers to the nearest whole percent.) 2016 % % 2017 % Before correction After correction 2018 % % 2019 % % %