A summary of Pasmore Ltd.'s income statement appears as follows:

Use the following ratio data to complete Pasmore Ltd.'s income statement:
a. Inventory turnover was 5.50 (beginning inventory was $395, ending inventory was $375).
b. Rate of return on sales is 0.095, or 9.5 percent.

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Income Statement Net sales Cost of goods sold Selling and administrative expenses $3,600 855 Other expenses Income before taxes Income tax expenses Net income 75 500 (CO S (D)