Use the following to answer questions 27 - 34 Victory Corporation reports the following amounts in its December 31, 20XF income statement: Sales Net sales income tax expense Sales returns Interest revenue $1,941,800 Advertising expense 1,909,000 Salaries expense 148,500 Cost of goods sold 32,800 Utilities expense 18,500 Average shares outstanding $334,000 298,500 777,600 22,000 500,000 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 to one decimal place) 33. $. Calculate Earnings per Share (two decimal places) 34. $ _If ending inventory consisted of $95,000 and beginning inventory was $78,000 how much inventory was purchased during the year