A computer problem has resulted in incomplete financial statements. Management of the company has asked you to see if you can fill in the missing data. Income Statement For the Year Ended December 31. 2014 Bahnce Sheet As of December 31, 2014 Ratio Assets Ratio Cash Formuh Accounts Receivable 410000 Inventories FormuhTotal Current Assets 4,922 75,000 90,000 Cost of Goods Sold Gross Prof Operating Expenses Earnings Before Interest and Taxes nterest Expense Sarnings Before Taxes Taxes er Income Gross Fixed Assets 710,000 Formul Accumulated Depreciation FormulaNet Fixed Assets Formula Total Assets Ratio Liabilities and Owner's Equity 65,000 Accounts Payable Short-term Bank Notes 40% otes: Tax Rate Ratio Ratio Ratio ValeTotal Current Liabilities 1.15000 Long-term Debt urrent Ratio nventory Turnover 2.00000 Conson Equity 9.00000 Total Liabilities and Owner's Equity 1.70000 R Tunover xed Asset Turmover TD To Equity Times Interest Earned et Profit Margin $5600 0.06611 0.09000 eturn on Tetal Assets eturn on Equity 0,2000 Complete the missing formula and missing data using ratios as appropriate. What is the gross profit? (Round up S100) A $452,500 B $445,500 C $464,400 D $495,000 13 14 What is the gross profit ratio? A 67% B 69% C 66% D 73% Page 5 of 10