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Financial information for two companies are presented below. Fill in the missing amounts. Ivanhoe Company Oriole Company $86,000 $ Sales revenue Sales returns and allowances

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Financial information for two companies are presented below. Fill in the missing amounts. Ivanhoe Company Oriole Company $86,000 $ Sales revenue Sales returns and allowances 4,000 120,000 Net sales Cost of goods sold 80,000 48,800 Gross profit 58,800 Operating expenses 19,200 Net income 16,800 e Textbook and Media List of Accounts Calculate the profit margin and the gross profit rate for each company. (Round answers to 1 decimal place, eg, 15.5%) Oriole Company Ivanhoe Company Profit margin Gross profit rate e Textbook and Media List of Accounts

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