Exercise 9-11 (Static) Calculate gross profit ratio and cost of goods sold LO 9-2, 9-3 Refer to the following mentioned data. (In millions) 2020 2019 2018 Net sales $ 8, 691 $ 8, 107 $ 6, 615 Cost of products sold 5 , 692 5, 414 4, 241 Gross margin $ 2,999 $ 2,693 $ 2, 374 Required: a. Calculate the gross profit ratio for each of the past three years. b. Assume that Campbell's net sales for the first four months of 2021 totaled $3.2 billion. Calculate an estimated cost of goods sold and gross profit for the four months, using the gross profit ratio for 2020. Complete this question by entering your answers in the tabs below. Required A Required B Calculate the gross profit ratio for each of the past three years. Note: Round your answers to 1 decimal place. 2020 % 2019 2018