Use the following to answer questions 22-29 GHT Corporation reports the following amounts in its December 31, 20XD income statement: Net sales Utilities expense Sales discounts Advertising expense $970,500 Cost of goods sold 23,400 Interest revenue 12,500 Salaries expense 251,000 Effective income tax rate $394,100 11,000 264,700 30% 22. $ Determine Sales 23. $ Determine gross profit 24. $ Determine operating expenses 25. $ _Determine Income before income taxes (IBT) 26. $ Determine Income tax expense 27. $ Determine net income 28 % Calculate gross profit ratio (round to one decimal place). 29 Comparing GHT's common sized Income statement with its competitor. The competitor's g margin is 43.6%, which company is doing better