Westlawn Company discloses the following for the year ended May

Westlawn Company discloses the following for the year ended May 31, 2014:

Sales                                                                      $495,000

Sales discounts                                                            5,900

Sales returns                                                             1 3,000

Gross profit from sales                                            124,000

Net loss                                                                      28,000

Required

Calculate 

(a) Net sales, 

(b) Total operating expenses, 

(c) Cost of goods sold, 

(d) Gross profit ratio (round to two decimal places).

Analysis Component: 

Refer to your answer in part (d). Westlawn experienced a gross profit ratio for the year ended May 31, 2013, of 23%. Is the change in the ratio favourable or unfavourable?