Exercise 6-16B Calculate levels of profitability for a multiple-step income statement and the gross profit ratio (L06-2, 6-7) [The following information applies to the questions displayed below.) Below are amounts found in the income statements of three companies. Company Henry Grace James Sales Revenue $50,000 53,000 58,000 Cost of Goods Sold $15,000 39,220 38,280 Operating Expenses $ 5,900 14,100 3,900 Non-operating Expenses $2,900 7,900 0 Income Tax Expense $2,900 0 3,900 Exercise 6-16B Part 1 Required: 1. 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- Net Income! Income taxes Loss Henry Grace James