Calculate net sales, gross profit, and gross profit ratio for each of the following situations. Round the gross profit ratio figure to the nearest whole percent. (12+2+2 = 16) Sales Sales discounts Sales retums and allowances Cost of goods sold a b C d $ 150,000 $500,000 $250,000 $230,000 6.000 8,000 12.000 10,500 2.100 3,000 2.200 12.500 120.000 350.000 210.000 190.000 a. Which situation has the highest net sales? b. Which situation has the highest gross profit ratio