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Required information (The following information applies to the questions displayed below.) Below are amounts found in the income statements of three companies. Company Henry Grace

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Required information (The following information applies to the questions displayed below.) Below are amounts found in the income statements of three companies. Company Henry Grace James Sales Revenue $52,000 55,000 60,000 Cost of Goods Sold $18, 200 44,000 Operating Expenses $ 6,000 13,000 4,000 Non-operating Expenses $3,000 8,000 0 Income Tax Expense $3,000 0 4,000 43,200 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 $ 0 Henry Grace 0 James 0

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