BE5-9 Assume Baja Company has the following account balances: Sales $510,000, Sales Returns and Allowances $15,000, Cost

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BE5-9 Assume Baja Company has the following account balances: Sales $510,000, Sales Returns and Allowances $15,000, Cost of Goods Sold $350,000, Selling Expenses $70,000, and Administrative Expenses $40,000. Compute the following:

(a) net sales,

(b) gross profit,

(c) income from operations, and

(d) gross profit rate. (Round to one decimal place.)

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Financial Accounting

ISBN: 9780470128848

6th Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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