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Puffy Time Lid. and Coffee Cafe Inc. are both specialty food chains. The two companies reported these figures in thousands (Click the icon to view Puffy Time's financial statements.) (Click the icon to view Coffee Cafe's financial statements.) Requirements 1. Compute gross profit percentage and the rate of inventory turnover for Puffy Time and Coffee Cafe for 2020 2. Based on these statistics, which company looks more profitable? Why? What other expense category should we consider in evaluating these two companies? O Data Table y food d stateme statemd Puffy Time Ltd. Statement of Operations of inventor Es more pro 2020 2019 (Thousands) Revenues: ne decimal pla and the rate 400 S 701 Net sales Inv turn 348 600 63 60 Costs and Expenses Cost of goods sold General and administrative expenses Puffy Time Ltd. Balance Sheet January 31 r rd 63 60 he rate pne decimal General and administrative expenses Puffy Time Ltd. Balance Sheet January 31 (Thousands) Assets Iny 2020 2019 turna S 12 GA 27 Current assets Cash and cash equivalents Receivables Inventories 22 34 10 27 Coffee Cafe Inc. Statement of Earnings 2020 2019 $ 5,000 (Thousands) Net sales Cost of goods sold Selling, general, and administrative expenses Coffee Cafe Inc. Balance Sheet 3,500 2,990 $ 6,330 2,606 2,360 Swet 2020 2019 (Thousands) Assets Current assets Coffee Cafe Inc. Balance Sheet nswer 2020 2019 (Thousands) Assets Current assets Cash and cash equivalents Receivables, net Inventories $ 314 $ 175 227 190 750 500 man 1. Coron por percentage and the root namory tumoret der Partine and Content Caster 2020 Pound gross protectora de la and the way to dece viny turnover Company

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