Problem Section Answer the following as directly as possible. Label your work in an organized manner sol can follow how you arrived at your solution. It's more important that I can follow your logie than whether you arrive at the correct answer Question 1 Use the following information for Gray Co. to answer the following questions 2009 2008 400 400 250 200 Operating expenses 80 70 22 40 Sales COGS Income taxes Compute Gray Co.'s effective tax rate for both 2008 and 2009. Would you consider it a significant change? (4 points) a. Compute Gray Co.'s gross profit margin, operating profit margin and net profit margin for 2009 only. (6 points b