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(e) In what section of its classified balance sheet should Laquen report inventory? E5-13 Presented below is financial information for two different companies. Compute missing

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(e) In what section of its classified balance sheet should Laquen report inventory? E5-13 Presented below is financial information for two different companies. Compute missing amounts and compute gross profit rate. Winter Company Summer Company $92,000 LO 5) Sales revenue Sales returns Net sales Cost of goods sold Gross profit Operating expenses Net income $ 5,000 87,000 56,000 02,000 41,500 18,000 15,000 Instructions (a) Determine the missing amounts. (b) Determine the gross profit rates. (Round to one decimal place.)

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