7 Exercise 5-11 Calculating income statement components LO1, 5 Check my work pod Calculate the missing amounts. (Loss amounts should be indicated with a minus sign and input all other amounts as positive values. Do not round intermediate calculations. Round "Gross profit ratio" to 2 decimal places.) Company A Company B 2023 2022 2023 2022 ook Sales $ 260,000 $ 184,000 Sales discounts 2,600 1.200 $ 47,000 540 Sales returns and allowances t 50,400 16,400 5,900 tences Not sales 207,000 166,400 44,000 Cost of goods sold 155,600 57.400 Gross profit from sales 51,400 48.800 21,200 Selling expenses 18,320 19,400 25,400 Administrative expenses 26,000 30,100 9,400 Total operating expenses 44,320 46,800 Profit (loss) 25,400 14,800 25 2,400 Gross profit ratio 24.83 % %