Reference no: EM132545786
Question - Presented below is information for Annie Company for the month of March 2018.
Cost of goods sold $245,000, Rent expense $ 36,000
Freight-out 7,000, Sales discounts 8,000
Insurance expense 5,000, Sales returns and allowances 11,000
Salaries and wages expense 63,000, Sales revenue 410,000
Instructions -
(a) Create an multiple -step income statement.
(b) Compute the gross profit rate.
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