stion 19 et ered ed out of The following information was taken from the accounting records of Candy Ltd. And Chocolate Ltd. at December 31, 2023. The two companies are competitors. Candy Ltd Chocolate Ltd Ending inventory, Dec. 31, 2022 $429,000 $149,000 n Ending inventory, Dec. 31, 2023 385,000 201,000 Cost of goods sold, 2023 3,378,100 1,277,500 Sales for 2023 6,756,200 2,555,000 Calculate the gross margin ratio for Chocolate Ltd for the 2023 fiscal year. (enter the amount to two decimal places. ie: 0.25) Answer: