1.

A company reports the following amounts at the end of the year:

Sales revenue	$	370,000
Cost of goods sold		205,000
Net income		57,000

Compute the company's gross profit ratio.

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2. On February 1, 2018, a company loans one of its employees $29,000 and accepts a nine-month, 6% note receivable.

Calculate the amount of interest revenue the company will recognize in 2018. (Do not round intermediate calculations. Round your final answer to the nearest whole dollar.)