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 2020 2019 120,000 $ 188,000 Company B 2020 95,000 2019 S 28,300 9,875 0.700 87.000 7.000 27.100 10.875 9,920 Sales Cost of goods sold Merchandise inventory (beginning) Net cost of merchandise purchases Merchandise inventory (ending) Cost of goods sold Gross profit from sales Operating expenses Profit (oss) Gross profit ratio 23,000 107.000 87,300 15 21,775 41,545 28,000 28.000 4.700 55.000 20,000 $ $ $ 7.276 %