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Al Azzan Heavy Industrial Equipment LLC has provided following Income Statement for the year ending 31st Mar 2020: Particulars Amount Sales 285,000 Less: Cost of

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Al Azzan Heavy Industrial Equipment LLC has provided following Income Statement for the year ending 31st Mar 2020: Particulars Amount Sales 285,000 Less: Cost of Goods Sold -155,000 Gross Profit 130,000 Less: Operating Expenses -75,000 Operating profits (EBIT) 55,000 Less: Financial Charges (Interest Paid) -25,000 Profit Before Tax 30,000 Less: Taxes -4,500 Profit After Tax (Net Profit for the Year) 25,500 Calculate Gross Profit Ratio and Net Profit Ratio from the above Income Statement

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