Required Information [The following Information applies to the questions displayed below.] Below are amounts found in the Income statements of three companies. Company Sales Revenue Cost of Goods Sold Operating Expenses Non-operating Expenses Income Tax Henry $22,000 $ 4,400 $4,500 $1,500 Expense $1,500 Grace 25,000 18,500 7,500 3,500 James 30,000 19,800 2,500 2,500 2-a. For each company, calculate the gross profit ratio. Henry Grace James Gross Profit Ratio 2-b. Which company has the most favorable ratio? O Henry O Grace O James