Piglet Co. reports the followinno $250.000 Net sales Cost of goods sold 130.000 Other income Selling expenses 40,000 Other expere REQUIRED: 1. Calculate Gross Profit. Formula: Gross Profit Net Sales - COGS 2. Calculate Gross Profit Percentage. Formula: Gross Profit / Sales 3. Calculate Net Income. 4. Calculate Return on Sales. Formula: Net Income / Sales 5. Using the above ratios, comment on the overall profitability of Piglet Co