(Answered) Refer to the consolidated statements of earnings on shown

Accounting

Refer to the consolidated statements of earnings on shown below of the Campbell Soup Company annual report in the appendix.

1167_262-B-A-I-S (1108).png Required:
a. Calculate the gross profit ratio for each of the past three years.
b. Assume that Campbell's net sales for the first four months of 2012 totaled $2.7 billion. Calculate an estimated cost of goods sold and gross profit for the four months.

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