Assume that Guardian Company uses a periodic inventory system and has these account balances: Purchases ..... $600,000 Purchase Returns and Allowances ...$25,000 Purchases Discounts ..... $11,000 Freight-in ..... $19,000 Beginning inventory $45,000 Ending inventory $55,000 Sales revenues $750,000 Sales discounts $12,000 Instruction: Prepare a schedule to calculate the amounts to be reported for cost of goods sold, gross profit and gross profit ratio