Required information Exercise 6-16A Calculate levels of profitability for a multiple-step income statement and the gross profit ratio (LO6-2, 6-7) [The following information applies to the questions displayed below.] Below are amounts found in the income statements of three companies. Company Sales Revenue Cost of Goods Sold Operating Expenses Non-operating Expenses Income Tax Expense Henry $ 32,000 $ 4,800 $ 5,000 $ 2,000 $ 2,000 Grace 35,000 24,500 13,100 7,000 0 James 40,000 24,800 3,000 0 3,000