Use the following to answer questions $22-29$

The company reports the following amounts in its December $31,20$XD income statement:

Jetermine gross profit

$$

Determine operating expenses

Determine Income before income taxes $($IBT$)$

Determine Income tax expense

etermine net income

$\%$ Calculate the company's gross profit ratio $($round to one decimal place$).$

Jomparing the company's common sized income statement with its competitor. The competitor's

gross margin is $45\mathrm{.}0\%,$ which company is doing better?

Chapter $6$