Required information [The following information applies to the questions displayed below Toys "R" Us sells a variety of children's toys, games, books, and accessories. Assume that a local store has the following amounts for the month of March 2021. Sales revenue Advertising expense Rent expense Gain on sale of building Inventory (Mar. 1, 2021) Cost of goods nold $73,300 5,600 3,500 6,700 2,400 35,400 Inventory (Mar. 31, 2021) Insurance expense Sales discounts Salaries expense Income tax expense $1,200 1,900 2,600 8.600 3,400 3. Calculate the gross profit ratio for the month of March Gross Profit Ratio