Exercise 5-16 Calculating expenses and income LO2, 7 Complete the following table. (Input all amounts as positive values. Do not round intermediate calculations. Round "Gross profit ratio" to 2 decimal places.) Company A Company B 2020 2019 2020 2019 Sales $ 114,000 $ 182,000 $ 92,000 Cost of goods sold Merchandise inventory (beginning) 9,100 27,700 9,275 6,400 Net cost of merchandise purchases 84,000 26,500 Merchandise inventory (ending)) 22,400 9,320 10,275 Cost of goods sold $ 84,300 $ 106,400 Gross profit from sales 40.345 20,575 Operating expenses 26,800 54,400 27,400 Profit (loss) Gross profit ratio $ 2,900 $ 21.200 $ 6,675