QS 4-14 Computing and analyzing gross margin ratio LO A2 Sales $155,000 $650,000 $43,000 $262,000 3,000 19,000 9, 775 14,500 Sales discounts 600 4,400 29,640 3,900 800 Sales returns and allowances 6,000 406,657 Cost of goods sold 131,223 Compute net sales, gross profit, and the gross margin ratio for each separate case a through d. (Round your gross margin ratio to 1 decimal place; Le.; 0.2367 should be entered as 23.7 %.) (a) (c) (b) (d) Net sales Gross profit Gross margin ratio