Use the following to answer questions 27-34 The company reports the following amounts in its December 31, 20XF income statement: Sales Net sales $910,000 Advertising expense 550,000 900,000 Salaries expense 250,000 income tax expense 30,000 Cost of goods sold 412,000 Sales returns 10,000 Utilities expense 12,000 Gain on sale of equipment 10,000 Average shares outstanding 50,000 27 27. 28. profit: expenses: 29 29. $ (IBT): 30. income: 31. decimal place) 32. place) 33. places) 34. Determine gross operating Determine Determine Income before income taxes Determine net Calculate gross profit ratio (one Calculate the profit margin (one decimal Calculate Earnings per share (two decimal If ending inventory consisted of $45,000 and beginning inventory was $36,000 how much inventory was purchased during the year?