Cinnamon Roll Ltd. and Coffee Bean Inc. are both specialty food chains. The two companies reported these figures, in thousands: (Click the icon to view Cinnamon Roll's financial statements.) (Click the icon to view Coffee Bean's financial statements.) Requirements 1. Compute gross profit percentage and the rate of inventory turnover for Cinnamon Roll and Coffee Bean for 2020. 2. Based on these statistics, which company looks more profitable? Why? What other expense category should we consider in evaluating these two companies? IR Requirement 1. Compute gross profit percentage and the rate of inventory turnover for Cinnamon Roll and Coffee Bean for 2020. (Round gross profit percentage to one decimal place, X.X%, and the inventory turnover rate to one decimal place, X.X.) Gross profit Company percentage Inventory turnover rate Cinnamon Roll % times Coffee Bean % times (Thousands) 2020 2019 Revenues: Net sales $ 600 $ 703 Costs and Expenses: Cost of goods sold General and administrative expenses 590 510 61 52 Cinnamon Roll Ltd. Balance Sheet January 31 (Thousands 2020 2019 Assets Current assets. Cash and cash equivalents $ EA 20 69 25 Receivables 22 30 Inventories 24 40 Coffee Bean Inc, Statement of Earnings (Thousands) 2020 2019 Net sales $ 8.000 $ 6.350 2.600 2.618 2.933 2,345 Cost of goods sold Selling, general, and administrative expenses Coffee Bean Inc. Balance Sheet 2020 2019 (Thousands) Assets Current assets: $ 313 180 Cash and cash equivalents 221 190 Receivables, net 550 250 Inventories