Below are amounts found in the income statements of three companies. Cost of Goods Operating Nonoperating Expenses $2,700 7,700 Income Tax Net Sales Sold Company Henry Expenses $5,700 16,800 3,700 Expense $2,700 $46,000 49,000 $11,500 35,280 34,560 Grace James 54,000 3,700 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. 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.) Operating Income Before Net Income / Gross Profit Income Income Taxes Loss Henry Grace James < Req 1 Req 2a > Complete this question by entering your answers in the tabs below. Req 1 Req 2a Req 2b For each company, calculate the gross profit ratio. Gross Profit Ratio Accounts in Ratio Amounts Henry Grace James < Req 1 Req 2b > Complete this question by entering your answers in the tabs below. Req 1 Reg za Req 2b Which company has the most favorable ratio? Which company has the most favorable ratio? < Req 2a Req 2b > Below are amounts found in the income statements of three companies. Cost of Goods Operating Nonoperating Expenses $2,700 7,700 Income Tax Net Sales Sold Company Henry Expenses $5,700 16,800 3,700 Expense $2,700 $46,000 49,000 $11,500 35,280 34,560 Grace James 54,000 3,700 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. 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.) Operating Income Before Net Income / Gross Profit Income Income Taxes Loss Henry Grace James < Req 1 Req 2a > Complete this question by entering your answers in the tabs below. Req 1 Req 2a Req 2b For each company, calculate the gross profit ratio. Gross Profit Ratio Accounts in Ratio Amounts Henry Grace James < Req 1 Req 2b > Complete this question by entering your answers in the tabs below. Req 1 Reg za Req 2b Which company has the most favorable ratio? Which company has the most favorable ratio? < Req 2a Req 2b > Below are amounts found in the income statements of three companies. Cost of Goods Operating Nonoperating Expenses $2,700 7,700 Income Tax Net Sales Sold Company Henry Expenses $5,700 16,800 3,700 Expense $2,700 $46,000 49,000 $11,500 35,280 34,560 Grace James 54,000 3,700 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. 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.) Operating Income Before Net Income / Gross Profit Income Income Taxes Loss Henry Grace James < Req 1 Req 2a > Complete this question by entering your answers in the tabs below. Req 1 Req 2a Req 2b For each company, calculate the gross profit ratio. Gross Profit Ratio Accounts in Ratio Amounts Henry Grace James < Req 1 Req 2b > Complete this question by entering your answers in the tabs below. Req 1 Reg za Req 2b Which company has the most favorable ratio? Which company has the most favorable ratio? < Req 2a Req 2b >