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Assume Pina Company has the following reported amounts: Sales revenue $610,000, Sales returns and allowances $22,000, Cost of goods sold $352,800, and Operating expenses $98,000.
Assume Pina Company has the following reported amounts: Sales revenue $610,000, Sales returns and allowances $22,000, Cost of goods sold $352,800, and Operating expenses $98,000. (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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