The Income Statement information is presented here for two companies:
				Davis Ltd.			Ryan Inc
Sales				110,000			[6]
Sales Returns and Allowances				[1]			9,000
Net Sales				100,000			109,000
Cost of Goods Sold				55,000			[7]
Gross Profit				[2]			65,000
Operating Expenses				22,750			[8]
Income from Operations				[3]			33,000
Other Revenues				2,800			0
Other Expenses				0			2,100
Income before Tax				[4]			[9]
Income Tax Expense				4,250			[10]
Net Income				[5]			24,500
Required:
1	Calculate the missing amounts for items 1 - 10
2	Calculate the gross margin and gross profit margin for each company