Westlawn Company discloses the following for the year ended May 31, 2023:

Required
Calculate 

(a) Net sales, 

(b) Total operating expenses, 

(c) Cost of goods sold, 

(d) Gross profit ratio (round to two decimal places).

Analysis Component:
Refer to your answer in part (d). Westlawn experienced a gross profit ratio for the year ended May 31, 2022, of 22%. Is the change in the ratio favourable or unfavourable?

Transcribed Image Text:

Sales......... Sales discounts.. Sales returns.......... Gross profit from sales.............. Loss............ $486,000 5,000 12,100 115,000 23,500