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Use the following to answer questions 27 - 34 Miracle Corporation reports the following amounts in its December 31, 20XF income statement: Sales Net sales income tax expense $910,000 Advertising expense 885,000 Salaries expense 48,500 Cost of goods sold 25,000 Utilities expense 11,000 Average shares outstanding $75,800 137,700 455,600 6,200 25,000 Sales returns Gain on sale of equipment 27. $. Determine gross profit: 28. $ Determine operating expenses: 29. $. Determine Income before income taxes (IBT): 30. $ Determine net income: 31. %. Calculate gross profit ratio (one decimal place) 32. Calculate the profit margin (two decimal places) 33. $ _Calculate Earnings per Share (rounded to two decimal places) 34. $ If ending inventory consisted of $45,000 and beginning inventory was $36,000 how much inventory was purchased during the year