Below are amounts found in the income statements of three companies. Cost of Goods Operating Company Henry Net Sales $42,000 Grace 45,000 50,000 James Required: Sold Expenses Nonoperating Expenses Income Tax Expense $10,500 $5,500 $2,500 $2,500 29,700 29,000 16,600 3,500 7,500 0 0 3,500 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. Req 1 Req 2a Req 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 Henry Grace James Operating Income Income Before Income Taxes Net Income/ Loss < Req 1 Req 2a >