Below are amounts found in the income statements of three companies. Company Henry Grace James Sales Revenue $18,000 21,000 26,000 Cost of Goods Sold $ 4,500 14,700 16, 120 Operating Expenses $4,300 7,300 2,300 Non-operating Expenses $1,300 3,300 0 Income Tax Expense $1,300 0 2,300 2-a. For each company, calculate the gross profit ratio. Gross Profit Ratio Henry Grace James 2-b. Which company has the most favorable ratio? Henry Grace James