Since 1 July 20X6, Hinge Co sold goods costing $57,200 to Lock Co for $88,000.40% of these items remained unsold by Lock Co at 31 December 20X6. The results of Lock Co accrued evenly over the year. Lock Co did not pay any dividends during the year. Co's 6. Managers are investigating the profitability of Hinge Co and Lock Co. Calculate the gross profit percentage for each company for the year ended 31 December 20X6 and complete the following table. Note: your answers should be rounded to the nearest whole number. If the gross profit percentage in Lock Co was lower than the gross profit percentage in Hinge Co and you discovered that both companies sell one product and use the same mark-up to set sales prices, what would be your conclusion about the level of theft of inventories in each company? ^ Task 3 On 1 January 207 Hinge Co acquired a 25% interest in Bolt Co. Bolt Co will be treated as an associate in Hinge Co's consolidated statement of profit or loss for the year ended 31 December 207. Complete the following table showing how the results of Bolt Co will be reported in Hinge Co's consolidated statement of profit or loss for the year ended 31 December 207. Consolidated investment income will include Consolidated profit before tax will include