Company Henry Grace James Required: Cost of Goods Operating Nonoperating Income Tax Net Sales Sold Expenses Expenses $38,000 41,000 46,000 $13,300 $5,300 $2,300 Expense $2,300 27,880 27,600 13,400 7,300 0 3,300 0 3,300 1. For each company, calculate (a) gross profit, (b) operating income, (c) income before income taxes, and (d) net income. 2-a. For each company, calculate the gross profit ratio. 2-b. Which company has the most favorable ratio? Complete this question by entering your answers in the tabs below. Req 1 Req 2a Req 2b For each company, calculate (a) gross profit, (b) operating income, (c) income before income taxes, and (d) net income. (Negative amounts should be indicated by a minus sign.) Gross Profit Operating Income Income Before Income Taxes Net Income / Loss Henry Grace $ 24,700 13,120 James 18,400 < Req 1 Req 2a >