Sales Cost of Operating Non-operating Income Tax CompanyRevenue Goods Sold Expenses Henry Grace James Expenses Expense $24,000 $ 8,400 20,250 21,440 $4,600 7,600 2.600 $1,600 3,600 $1,600 27,000 32,000 2,600 References Section Break Exercise 6-16 Calculate levels of profitability for a multiple-step income statement and the gross profit ratio (L06-2, 6-7) value 0.50 points Exercise 6-16 Part 1 Required 1. For each company, calculate (a) gross profit, (b) operating income, (c) Income before income taxes, and (d) net income. (Negati before income taxes, and (d) net income. (Negative amounts Gross Profit Operating Income Before Net Income Income Income taxes Henry Grace James