How was your body fat measured?
I wasn't doubting that you weigh what you say you do, but questioning how "fat" you really think you are. 116 could be a lot of muscle and some fat on a petite woman, or a lot of fat and a little muscle.
There's a thread going on this forum based on Tom Venuto's ebook "Burn the Fat, Feed the Muscle". His book would probably give you a solid understanding of how to go about changing your body composition and lowering your body fat.
Your profile says that you are 21 yrs old. If you're in good health, doing some heavy lifting and cardio should change those percentages fairly rapidly
Mel