Check my wor Net sales Cost of products sold Gross margin 2017 2016 $34,387 $30,574 14,726 13,878 $19,661 $16,696 2015 $26,456 13,561 $12,895 e Required: a. Calculate the gross profit ratio for each of the past three years. (Round your answers to 2 decimal places.) lete the gross profit 2017 2016 2015 57.18 % 54.61 % 48.74% b. Assume that Campbell's net sales for the first four months of 2018 totaled $12.47 billion. Calculate an estimated cost of goods sold and gross profit for the four months, using the gross profit ratio for 2017. (Round intermediate calculations to 2 decimal places. Enter your answers in millions rounded to nearest whole number (i.e., 5,000,000 should be entered as 5).) Cost of goods sold Gross profit million million