answer 18-29

Use the following to answer questions 18-21 BST Inc., begins the year with inventory of $125,000 and ends the year with inventory of $89.500 During the year. the following amounts are recorded 19. 18. S Net Sales $ Calculate cost of goods sold 20. S Gross profit 21. 5 Gross profit ratio (rounded to two decimal places) Use the following to answer questions 22 - 29 GHT Corporation reports the following amounts in its December 31, 20XD income statement 22. S Determine Sales 23. $ Determine gross proti 24.5 Determine operating expenses 25.5 (TBT) Determine Income before income taxes 26. S Determine Income tax expense 27. S Determine net income 28 % Calculate gross profit ratio (round to one decimal place! 29 Comparing GHT'S common sized income statement with its competitor. The competitor's gross margin is 43.6%, which company is doing better?