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Below are amounts found in the income statements-of three companies. Sales Cost of Operating Non-operating Income Tax Expenses $1.400 3.400 0 Expense Company Revenue Goods

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Below are amounts found in the income statements-of three companies. Sales Cost of Operating Non-operating Income Tax Expenses $1.400 3.400 0 Expense Company Revenue Goods Sold Henry Grace James $ 6,000 17250 18760 Expenses $ 4.400 7400 2.400 $1,400 0 2.400 $20,000 23,000 28,000 volue: 714 points Required: 1. For each company, calculate (a) gross profit. (b) operating income, (c) income before income ta Operating Income Before Net Income/ income Gross Profit Income taxes Loss Henry Grace James

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