Problem 2 - 20 points

The following account information, in alphabetical order, was taken from the worksheet of Compu-Soft forth month ended November 30, 2023:

Adjusted Trial Balance

Account

201

Accounts payable

106

Accounts receivable

166

101

Accumulated depreciation, store equipment

Cash

502 Cost of goods sold

612 Depreciation expense, store equipment

1. Peter Delta, capital
2. Peter Delta, withdrawals

406 Rent revenue

413 Sales

415

Sales discounts

414 Sales returns and allowances

165 Store equipment

690 Utilities expense

623 Wages expense Totals

Debit

Credit

800

1,250

5,100

2,350

15,300

110

3,220

5,100

3,000

29,900

40

770

7,700

2,600

6 800

42,020

$

42.020

Assume that for the month ended October 31, 2023, net sales were $34,000, cost of goods sold was $21, income from operations was $8,500. Calculate the company's gross profit ratios for October and Novemb (Do not round intermediate calculations. Round your final answers to 2 decimal places.)

Month

Gross profit margin

October

November

moni