Exercise 6-16 (Algo) Calculate levels of profitability for a multiple-step income statement and the gross profit ratio (LO6-2, 6-7) Below are amounts found in the income statements of three companies. Required: 1. For each company, calculate (o) gross profit, (b) operating income. (c) income before income taxes, and (d) net income, 2-a. For each company, calculate the gross profit ratio. 2b. Which company has the most favorable ratio? Complete this question by entering your answers in the tabs below. 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.) For each company, calculate the gross profit ratio. Which company has the most favorable ratio