b. Assume that Campbell's net sales for the first four months of 2018 totaled $12.46 billion. Calculate an estimated cost of goods sold and gross profit for the four months. using the gross profit ratio for 2017.

Refer to the following mentioned data. (In millions) 2017 2016 2015 $30,527 13,923 Net sales $34,437 14,783 $26,589 Cost of products sold 13,691 Gross margin $19,654 $16,604 $12,898 Required: a. Calculate the gross profit ratio for each of the past three years. (Round your answers to 2 decimal places.) 2017 57.07 % 2016 54.39 % 2015 48.51 %