4 6.53 points Below are amounts found in the income statements of three companies. Company Henry Net Sales $40,000 Grace 43,000 James 48,000 Required: Cost of Goods Operating Nonoperating Expenses Income Tax Sold Expenses $16,000 27,950 27,360 $5,400 16,500 3,400 $2,400 Expense $2,400 7,400 0 0 3,400 Skipped eBook References 1. For each company, calculate (a) gross profit, (b) operating income, (c) income before income taxes, and (d) net income. 2-a. For each company, calculate the gross profit ratio. 2-b. Which company has the most favorable ratio? Complete this question by entering your answers in the tabs below. Req 1 Req 2a Req 2b For each company, calculate the gross profit ratio. Gross Profit Ratio Accounts in Ratio Amounts Henry 0 Grace James 0 0 < Req 1 Req 2b >