Use the following to answer questions 27 - 34 Miracle Corporation reports the following amounts in its December 31, 20XF income statement: Sales Net sales income tax expense Sales returns Interest expense $860,000 852,000 21,600 8,000 5,000 Advertising expense Salaries expense Cost of goods sold Utilities expense Average shares outstanding $75,000 218,000 438,780 12,000 20,000 _Determine gross profit: _Determine operating expenses: _Determine Income before income taxes (IBT): $_ --- _Determine net income: - -:--% 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. $_ _If ending inventory consisted of $45,000 and beginning inventory was $36,000 how much inventory was purchased during the year