Friar Company discloses the following information for the year ended October 31, 2014:

Sales....................................................................................................................        $355,000

Sales discounts ...................................................................................................              5,500

Sales returns........................................................................................................            14,000

Merchandise inventory (beginning of period)......................................................            31,000

Invoice cost of merchandise purchases...............................................................         1 78,000

Purchase discounts..............................................................................................              3,600

Purchase returns and allowances ........................................................................              6,000

Cost of transportation-in......................................................................................            11,000

Gross profit from sales........................................................................................          142,000

Net income..........................................................................................................            65,000

Required

Calculate (a) total operating expenses, (b) cost of goods sold, (c) merchandise inventory (end of period), and (d) gross profit ratio (round to two decimal places).

Analysis Component: Assuming that the gross profit ratio for the year ended October 31, 2013, was 47%, compare Friar Company's performance from 2013 to 2014.