Westlawn Company discloses the following for the year ended May 31, 2020 Sales $486,000 Sales discounts 5,000 Sales returns 12,100 Gross profit from sales 115,000 Loss 23,500 Required: a. Calculate the net sales. Net sales b. Calculate the total operating expenses. Total operating expenses c. Calculate the cost of goods sold. Cost of goods sold d. Calculate the gross profit ratio. (Round your final answer to 2 decimal places.) Gross profit ratio