Use the Topps Company’s annual report to answer the following questions.

a. What was Topps’ gross margin percentage for 2003 and 2002?

b. What was Topps’ return on sales percentage for 2003 and 2002?

c. Topps’ Gross Profit on Sales was about \($12\) million lower in 2003 than in 2002 and this caused its Net Income to be lower as well. However, its gross margin percentage also decreased in 2003. Ignoring taxes, how much higher would its 2003 net income have been if the gross margin percentage in 2003 had been the same as for 2002?