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Below are amounts found in the income statements of three companies. Company Sales Revenue Cost of Goods Sold Operating Expenses Nonoperating Expenses Income Tax Expense

Below are amounts found in the income statements of three companies. Company Sales Revenue Cost of Goods Sold Operating Expenses Nonoperating Expenses Income Tax Expense Company A $28,000 $7,000 $4,800 $1,800 $1,800 Company B 31,000 24,800 7,800 3,800 0 Company C 36,000 25,920 2,800 0 2,800 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

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