k ces Below are amounts found in the income statements of three companies. Cost of Goods Operating Company Henry Net Sales Sold Expenses Nonoperating Expenses Income Tax Expense $50,000 $15,000 Grace 53,000 39,220 James 58,000 38,280 $5,900 14,100 3,900 $2,900 $2,900 7,900 .0 0 3,900 Required: 1. For each company, calculate (a) gross profit, (b) operating income, (c) income before income taxes, and (d) net income. 2-a. For each comparty, calculate the gross profit ratio. 2-b. Which company has the most favorable ratio? Complete this question by entering your answers in the tabs below. Req 1 Req 2a Req 2b 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 Income Taxes Net Income / Loss