Chocolate Treats Ltd. and Coffee Bars Inc. are both specialty food chains. The two companies reported these figures, in thousands:

Requirements
1. Compute the gross profit percentage and the rate of inventory turnover for Chocolate Treats and for Coffee Bars for 2014.
2. Based on these statistics, which company looks more profitable? Why? What other expense category should we consider in evaluating these two companies?

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Chocolate Treats Ltd Statement of Operations Fiscal Year Thousands 2014 2013 Revenues: Net sales. $543 $708 Costs and Expenses: Cost of goods sold General and administrative expenses 475 68 598 Chocolate Treats Ltd. Balance Sheet January 31, Thousands Assets Current assets: 2014 2013 $17 27 24 $28 30 29 Cash and cash equivalents Inventories Coffee Bars Inc. Statement of Earnings Fiscal Year Thousands Net sales Cost of goods sold. Selling, general, and administrative expenses 2014 $7,787 3,179 2,948 2013 $6,369 2,605 2,363 Coffee Bars Inc. Balance Sheet Year End Thousands Assets Current assets: 2014 2013 $313 224 636 $174 191 546 Cash and temporary inv estments Inventories