Selected accounts and other information from the records of Calderone Company for the year ended December 31 follow: 1. Compute the following items that would appear on a classified income statement. The company combines both selling and general and administrative expenses into a single line, Operating Expenses. a. Net sales b. Cost of goods sold c. Gross profit d. Operating expenses e. Net income from operations f. Other income, net g. Net income for year 2. Prepare a summarized income statement for Calderone Company for the current year. 3. Compute the following ratios: a. Gross profit percentage b. Inventory turnover Complete this question entering your answers in the tabs below. Compute the following items that would appear on a classified income statement. The company combines both selling and general and administrative expenses into a single line, Operating Expenses. 1. Compute the following items that would appear on a classified income statement. The company combines both selling and general and administrative expenses into a single line, Operating Expenses. a. Net sales b. Cost of goods sold c. Gross profit d. Operating expenses e. Net income from operations f. Other income, net g. Net income for year 2. Prepare a summarized income statement for Calderone Company for the current year. 3. Compute the following ratios: a. Gross profit percentage b. Inventory turnover Complete this question entering your answers in the tabs below. Prepare a summarized income statement for Calderone Company for the current year. Selected accounts and other information from the records of Calderone Company for the year ended December 31 follow: 1. Compute the following items that would appear on a classified income statement. The company combines both selling and general and administrative expenses into a single line, Operating Expenses. a. Net sales b. Cost of goods sold c. Gross profit d. Operating expenses e. Net income from operations f. Other income, net g. Net income for year 2. Prepare a summarized income statement for Calderone Company for the current year. 3. Compute the following ratios: a. Gross profit percentage b. Inventory turnover Complete this question entering your answers in the tabs below. Compute the ratio for gross profit percentage. 1. Compute the following items that would appear on a classified income statement. The company combines both selling and general and administrative expenses into a single line, Operating Expenses. a. Net sales b. Cost of goods sold c. Gross profit d. Operating expenses e. Net income from operations f. Other income, net g. Net income for year 2. Prepare a summarized income statement for Calderone Company for the current year. 3. Compute the following ratios: a. Gross profit percentage b. Inventory turnover Complete this question entering your answers in the tabs below. Compute the ratio for inventory turnover