Below are amounts found in the income statements of three companies. Company Henry Grace James Net Sales $46,000 49,000 54,000 Cost of Goods Operating Sold Expenses $11,500 $5,700 35,280 16,900 34,560 3,700 Nonoperating Expenses $2,700 7,700 0 Income Tax Expense $2,700 0 3,200 Required: 1. For each company, calculate (a) gross profit, (b) operating income. (c) income before income taxes, and (d) net income. 2-a. For each company, calculate the gross profit ratio. 2-b. Which company has the most favorable ratio? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2a Reg 2b For each company, calculate (a) gross profit, (b) operating income. (C) income before income taxes, and (d) net income. (Negative amounts should be indicated by a minus sign.) Gross Profit Operating Income Income Before Income Taxes Net Income! Loss Henry Grace James Complete this question by entering your answers in the tabs below. Reg 1 Reg 2a Reg 2b For each company, calculate the gross profit ratio. Gross Profit Ratio Accounts in Ratio Amounts Henry Grace James Complete this question by entering your answers in the tabs below. Reg 1 Reg 2a Reg 2b Which company has the most favorable ratio? Which company has the most favorable ratio?