Chocolate Treats Ltd. and Coffee Bars Inc. are both specialty food chains. The two companies reported these figures, in thousands:

{Requirements}
1. Compute the gross profit percentage and the rate of inventory turnover for Chocolate Treats and for Coffee Bars for 2020 2. Based on these statistics, which company looks more profitable? Why? What other expense category should we consider in evaluating these two companies?

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2 A Chocolate Treats Ltd. Statement of Operations 3 (Thousands) 5 Revenues: Net sales 6 Costs and Expenses: 7 Cost of goods sold 8 General and administrative expenses 9 B C D Fiscal Year 2020 2019 $ 543 $ 708 475 598 68 55 1 A Chocolate Treats Ltd. Balance Sheet C 2 3 (Thousands) January 31, 2020 2019 4 Assets 5 Current assets: 6 Cash and cash equivalents $ 17 $ 28 7 Receivables 27 30 8 Inventories 24 29 9