Unison company is a merchandising company which uses the perpetual inventory system. The data presented below is from the accounting records of Unison for the year ended December 31, 2015. The following set of questions on the information is provided for Unison.

Average inventory 80,000

Cost of goods sold 200,000

Selling expenses 40,000

Administrative expenses 60,000

Interest expense- 20,000

Net Sales- 520,000

Using above information, compute the following for the income statement prepared for the year ended in 2015:

1. Gross profit

2.Net income

3.gross profit ratio

4.inventory turnover