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Assume the average cost of computer equipment fell $21\mathrm{.}2$ percent between $2016$ and $2017.$ Lets see whether these changes are reflected in the income statement of Computer Tycoon Inc. for the year ended December $31,2017.20172016$ Sales Revenues$$98,600$ $$122,000$ Cost of Goods Sold $60,60073,700$ Gross Profit $38,00048,300$ Selling, General, and Administrative Expenses $34,20034,200$ Interest Expense $542428$ Income Before Income Tax Expense $3,25813,672$ Income Tax Expense $1,6005,146$ Net Income$$1,658$ $$8,526$ Required:$1-$a$.$ Compute the gross profit percentage for each year. $($Round your answers to $1$ decimal place.$)1-$b$.$ Not available in Connect. $2-$a$.$ Compute the net profit margin for each year. $($Round your answers to $1$ decimal place.$)2-$b$.$ Not available in Connect. $3-$a$.$ Computer Tycoon reported average net fixed assets of $$57,700$ in $2017$ and $$59,100$ in $2016.$ Compute the fixed asset turnover ratios for both years. $($Round your answers to $2$ decimal places.$)3-$b$.$ Not available in Connect. $4-$a$.$ Computer Tycoon reported average shareholders equity of $$57,500$ in $2017$ and $$44,300$ in $2016.$ Compute the return on equity ratios for both years. $($Round your answers to $1$ decimal place.$)4-$b$.$ Did the company generate greater returns for shareholders in $2017$ than in $2016?$ multiple choiceYesNo

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