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 Gain on sale of equipment $1,165,000 Advertising expense 1,152,300 Salaries expense 30,000 Cost of goods sold 12,700 Utilities expense 3,000 Average shares outstanding $125,400 261,625 614,175 10,450 100,000 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) If ending inventory consisted of $45,000 and beginning inventory was $36,000 how much inventory was purchased during the year? 24. $