n

Use the following to answer questions 1821 LO Inc., begins the year with inventory of $17,500 and ends the year with inventory of $23,100. During the year, the following amounts are recorded: 18. $ Net Sales 19. $ Calculate cost of goods sold 20. 5 Gross profit 21. decimal place) Use the following to answer questions 22-29 GHT Corporation reports the following amounts in its December 31, 20XD income statement: 22. $ Determine Sales GHT Corporation reports the following amounts in its December 31, 20XD income statement: 22. S Determine Sales 23. 5 Determine gross profit 24. 5 Determine operating expenses 25. S Determine Income before income taxes (IBT) 26. 5 Determine Income tax expense 27. $ Determine net income 28. % Calculate gross profit ratio (round to one decimal place). 23. $ Determine gross profit 24. $ Determine operating expenses 25. $ Determine Income before income taxes (IBT) 26. $ Determine Income tax expense 27. $ Determine net income 28 \% Calculate gross profit ratio (round to one decimal place). 29. Comparing GHT's common sized income statement with its competitor. The competitor's gross margin is 40.0%, which company is doing better