ACCTIOI-Exam | 10.Presented below is information for Kaila Company for the month of March 2017. S 32,000 2,000 8,000 410,000 $100,000 Rent expense Cost of goods sold Freight-out Insurance expense Salaries and wages expense 7,000 Sales discounts 6,000 allowances 55,000 Sales returns and Sales revenue a. Prepare a multiple-step income statement. b. Compute the gross profit rate