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Chocolate Treats has the following account balances: $13,000 Cost of goods sold Depreciation expense Insurance expense Interest expense Interest revenue $380,000 12.500 3.000 51,000 Rent
Chocolate Treats has the following account balances: $13,000 Cost of goods sold Depreciation expense Insurance expense Interest expense Interest revenue $380,000 12.500 3.000 51,000 Rent expense Salaries expense Sales Sales discounts Sales returns and allowances 555,000 5.000 10.500 8.000 15.500 Assuming Chocolate Treats uses a multiple-step income statement, calculate the following: (a) net sales, expenses. (d) profit from operations, and (e) profit (a) Net sales $ (b) Gross profit $ (c) Operating expenses $ (d) Profit from operations $ (e) Profit $
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