T Corporation reports the following amounts in its December 31, 20XD income statement: Cost of goods sold Sales discounts Salaries expense Interest revenue $525,000 Net sales 20,000 Advertising expense 221,000 Utilities expense 5,000 Effective income tax rate $950,000 125,000 32,500 20% $ _Determine Sales $ _Determine gross profit $. _Determine operating expenses $. _Determine Income before income taxes (IBT) $_ _Determine Income tax expense $ _Determine net income _% Calculate gross profit ratio (round to one decimal place). _Comparing GHT's common sized income statement with its competitor. The competitor's gross margin is 43.6%, which company is doing better