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 $1,018,000 Advertising expense 996,500 Salaries expense 46,600 Cost of goods sold 21,500 Utilities expense 9,200 Average shares outstanding $125,000 195,500 501,200 9,000 100,000 27. $ _Determine gross profit: 28. $ _Determine operating expenses: 29. $ _Determine Income before income taxes (IBT): 30. $ Determine net income: 31. %. Calculate gross profit ratio (rounded to one decimal place) 32. %. Calculate the profit margin (rounded) 33. $. _Calculate Earnings per Share (two decimal places) 34. $ _lf ending inventory consisted of $45,200 and beginning inventory was $36,900 how much inventory was purchased during the year