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Question - Assume Metlock, Inc. has the following reported amounts: Sales revenue $1,484,000, Sales returns and allowances $44,000, Cost of goods sold $967,680, and Operating expenses $320,100.
Required -
(a) Compute net sales.
(b) Compute gross pro?t.
(c) Compute income from operations.
(d) Compute the gross pro?t rate.
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