undefined

Use the following to answer questions 27 - 34 The company reports the following amounts in its December 31, 20XF income statement: Sales Gain on sale of equipment income tax expense Cost of goods sold Utilities expense $940,000 Advertising expense 13,000 Net sales 28,000 Salaries expense 495,000 Sales returns 12,000 Average shares outstanding $92,300 925,000 198,500 15,000 100,000 27. $. Determine gross profit: 28. $ Determine operating expenses: 29. $ Determine Income before income taxes (IBT): 30. $ Determine net income: 31. %. Calculate gross profit ratio (one decimal place) 32. %. Calculate the profit margin (two decimal places) 33. $ Calculate Earnings per Share (rounded to two decimal places) 34. $ Lif ending inventory consisted of $36,000 and beginning inventory was $41,000 how much inventory was purchased during the year