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Refer to the following mentioned data. Net sales Cost of products sold Gross margin (In millions) 2017 2016 2015 $34,602 $39,192 $26,079 14,011 13,904 13,105

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Refer to the following mentioned data. Net sales Cost of products sold Gross margin (In millions) 2017 2016 2015 $34,602 $39,192 $26,079 14,011 13,904 13,105 $20,591 $16,288 $12,971 Required: 0. Calculate the gross profit ratio for each of the past three years. (Round your answers to 2 decimal places.) % 2017 2016 2015 % % b. Assume that Campbell's net sales for the first four months of 2018 totaled $12,35 billion. Calculate an estimated cost of goods sold and gross profit for the four months, using the gross profit ratio for 2017 (Round intermediate calculations to 2 decimal places. Enter your answers in millions rounded to nearest whole number (ie, 5,000,000 should be entered os 5).) Cost of goods sold Gross profit million million

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