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[The following information applies to the questions displayed below.] Below are amounts found in the...

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Accounting

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[The following information applies to the questions displayed below.] Below are amounts found in the income statements of three companies. Company Henry Grace James Sales Revenue $24,000 27,000 32,000 Cost of Goods Sold $ 8,400 20, 250 21,440 Operating Expenses $ 4,600 7,600 2,600 Non-operating Expenses $1,600 3,600 Income Tax Expense $1,600 0 2,600 Required: 1. For each company, calculate (a) gross profit, (b) operating income, (c) income before income taxes, and (d) net income. (Negative amounts should be indicated by a minus sign.) Gross Profit Operating Income Income Before Income taxes Net Income / Loss Henry Grace James

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