In this Part of the midterm, there are 5 questions, worth a total of 10 points (2 each). You must answer all of them. When entering a numeric answer, just the digits -no dollar signs, commas, or decimal points. It will probably help if you create the multi-step income statement, or at least classify the data below, to keep track of the amounts that have to be calculated.

U Stores Limited had the following account balances at December 31, 2021:

Deferred revenue	$8,960
Travel and entertainment expense	11,340
Cash received from debt	18,500
Sales revenue	412,860
Repairs and maintenance expense	15,655
Insurance expense	9,400
Advertising expense	48,265
Dividends, paid in cash	15,500
Office supplies expense	6,775
Prepaid expenses	12,565
Sales discounts	22,540
Rent expense	11,000
Payments to suppliers on account	67,844
Income tax expense	33,750
Contributions by owners	24,750
Cost of goods sold	165,000
Collections from customers	69,532
Freight expense	10,065
Sales returns and allowances	15,320

What is the company's gross profit ratio, also called gross profit margin ratio? (2 points) For this question, enter digits only. If your answer is 53%, just enter 53. No % sign or decimal points.

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What is the companys net income? (2 points)

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What is total net sales for this company? (2 points)

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What is total operating expenses for this company? ? (2 points)

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What is total gross profit for this company? ? (2 points)

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