Solution-Multiple-step income statement and compute the

Multiple-step income statement and compute the gross profit

Reference no: EM13554900

Presented below is information for Jorge Company for the month of March 2012.

Cost of goods sold	$212,000	Rent expense	$ 32,000
Freight-out	7,000	Sales discounts	8,000
Insurance expense	6,000	Sales returns and allowances	13,000
Salaries and wages expense	58,000	Sales revenue	380,000

Instructions

(a) Prepare a multiple-step income statement.

(b) Compute the gross profit rate.

Reference no: EM13554900

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Multiple-step income statement and compute the gross profit

Reference no: EM13554900

Reference no: EM13554900

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