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 2017.
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 3 (Thousands) 4 Revenues: 5 6 Costs and Expenses: 7 Cost of goods sold 2017 2016 Net sales $ 543 $ 708 475 598 General and administrative 03 Chocolate Treats Ltd. Balance Sheet 2 3 (Thousands) 4 Assets 5 Current assets: January 31 2017 2016 Cash and cash equivalents Receivables Inventories $ 17 27 24 S 28 30 29 7 Coffee Bars Inc. Statement of Earnings Fiscal Year 3 (Thousands) 4 Net sales 5 Cost of goods sold 2017 2016 7,787$6,369 3,179 2,605 2,363 7 Coffee Bars Inc. Balance Sheet Year End 3Ц (Thousands) 4 Assets 5 Current assets: 2017 2016 Cash and temporary investments Receivables, net $313 224 636 $ 174 191 546 7 8 Inventories