Below are the Income Statement of ABC Company for two consecutive years. Net Sales Cost of Goods Soldxs3 Gross Profit ABC Company Year 1 P 5,000,000 880,000 550,000 Year 2 P6,500,000 950,000 600,000 Less: Administrative Expense 95.000 105,000 40,000 Expense Income before taxes 3, 455,000 4,805,000 Income Tax Expense 691, 000 961, 000 Income After Taxes P 2,764, 000 P 3,844, 000 Find the following: a, Express the ratio of the Gross Profit of Year I to the Cost of Goods Sold of Year 2 in Fraction. b. What fraction can you arrive at if you compare the Administrative Expenses of Year 1 to its Year 2? c. What would be the difference if you subtract your answer from letter a to your answer from letter b? d. What fraction can you arrive if you will compare the Selling and Operating taxes of Year 2 to the Net Sales of Year 1? e. Express the ratio of Year 1 Selling and Operating Expense to the Administrative Expense of the same year in fraction form. f. What would be the product of the answers for letters d and e? kva Below are the Income Statement of ABC Company for two consecutive years. Net Sales Cost of Goods Soldxs3 Gross Profit ABC Company Year 1 P 5,000,000 880,000 550,000 Year 2 P6,500,000 950,000 600,000 Less: Administrative Expense 95.000 105,000 40,000 Expense Income before taxes 3, 455,000 4,805,000 Income Tax Expense 691, 000 961, 000 Income After Taxes P 2,764, 000 P 3,844, 000 Find the following: a, Express the ratio of the Gross Profit of Year I to the Cost of Goods Sold of Year 2 in Fraction. b. What fraction can you arrive at if you compare the Administrative Expenses of Year 1 to its Year 2? c. What would be the difference if you subtract your answer from letter a to your answer from letter b? d. What fraction can you arrive if you will compare the Selling and Operating taxes of Year 2 to the Net Sales of Year 1? e. Express the ratio of Year 1 Selling and Operating Expense to the Administrative Expense of the same year in fraction form. f. What would be the product of the answers for letters d and e? kva