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Assume Kupfer Company has the following reported amounts: Sales revenue $515,100, Sales returns and allowances $15,150, Cost of goods sold $333,300, and Operating expenses $90,900.
(a) Compute net sales.
(b) Compute gross profit.
(c) Compute income from operations.
(d) Compute the gross profit rate. (Round answer to 1 decimal place, e.g. 25.2%.)
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