Required information [The following information applies to the questions displayed below.] Below are amounts found in the income statements of three companies. Sales Revenue $36,000 39,000 44,000 Company Henry Grace James Cost of Goods Sold $12,600 26,130 25,960 Operating Expenses $ 5,200 13,300 3,200 Non-operating Expenses $2,200 7,200 0 Income Tax Expense $2,200 3,200 Required: 1. For each company, calculate (a) gross profit, (b) operating income, (c) income before income taxes, and (d) net income. (Negative amounts should be indicated by a minus sign.) Gross Profit Operating Income Income Before Income taxes Net Income / Loss Henry Grace James 2-a. For each company, calculate the gross profit ratio. Gross Profit Ratio Henry Grace = James 2-b. Which company has the most favorable ratio? O O O Henry O Grace O James