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Assume Bridgeport Company has the following reported amounts: Sales revenue $590,000, Sales returns and allowances $25,000, Cost of goods sold $372,900, and Operating expenses $92,000.

image text in transcribed Assume Bridgeport Company has the following reported amounts: Sales revenue $590,000, Sales returns and allowances $25,000, Cost of goods sold $372,900, and Operating expenses $92,000. (a) Compute the net sales. Net sales $ (b) Compute the gross profit. Gross profit $ (c) Compute the income from operations. Income from operations (d) Compute the gross profit rate. (Round answer to 1 decimal place, e.g. 25.2\%.) Gross profit rate %

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