6-74B (similar to) Data Table Pastry People, Inc, and Moon Beam Coftee Corporation are both specialty tood chains. The two companies reported these figures, in millions: EE (Click the icon to view Pastry People's financial statements.) (Click the icon to view Moon Beam Coffee's financial statements.) Read the requirements. (Amounts in millions) 2018 2017 Net sales 700 S 702 Requirement 1. Compute gross margin percentage and the rate of ivetory turnover for Pastry People and Moon Beam Coffee for 2018. (Round place,KX) Costs and Expenses Gross Profit Cost of goods sold Selling, general, and administrative expenses 560 600 Company Percentage Turnover Rate 60 52 Pastry People Pastry People, Inc. Balance Sheets (Adapted) December 31 Moon Beam Coffee (Amounts in millions) 2018 2017 Assets Current assets: Cash and cash equlvalents 15 S 24 35 70 Receivables 30 Data Table Moon Beam Coffee Corporation Income Statements (Adapted) Years Ended December 31 (Amounts in millions) Net sales Cost of goods sold Selling, general, and administrative expenses 2018 2017 6,500 $ 6,369 5,850 2,948 2,606 2,380 Moon Beam Coffee Corporation Balance Sheets (Adapted) December 31 (Amounts in millions) 2018 2017 Assets Current assets: Cash and temporary investments Receivables, net Inventories 315 $ 220 650 180 187 550 Print Done i Requirements 1. Compute gross margin percentage and the rate of inventory turnover for Pastry People and Moon Beam Coffee for 2018 2. Based on these statistics, which company looks more profitable? Why? PrintDone