7 5 points Exercise 6-16 (Algo) Calculate levels of profitability for a multiple-step income statement and the gross profit ratio (LO6-2, 6-7) Below are amounts found in the income statements of three companies. Cost of Goods Operating Nonoperating Income Tax Company Henry Bet Sales Sold $30,000 $6,000 Dock Grace 33,000 23,760 Expenses $4,900 13,000 Expenses $1,900 6,900 Expense) $1,900 38.000 24,320 2,900 0 2,900 Het 01 Required: 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. Melerences Req 1 Req Za Reg 2b For each company, calculate (a) gross profit, (b) operating income, (c) income before income taxes, and (d) net income. (Negative amounts should be indicated by a minus sign.) Gross Profit Operating Income Income Before Income Taxes Net Income Loss Henry Grace James Req 2a >