Anthony Inc. reported the following amounts on its 2016 and 2017 income statements: 
Requirements:
A.Compute the gross profit percentage for years 2016 and 2017.
B.Provide at least two potential causes for the change in Anthony's gross profit percentage.
Definitions:
Property
Assets owned by a person or a company, encompassing both physical objects and intellectual property.
Life Insurance Proceeds
The money paid to the beneficiaries of a life insurance policy when the insured person passes away.
Gross Income
Total income from all sources before deductions, exemptions, and taxes.
Insured
A person or entity covered under an insurance policy, providing protection against specified risks or losses.
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