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Chocolate Treats has the following account balances: $400,000 Rent expense $44,000 Cost of goods sold Depreciation expense Insurance expense 13.500 Salaries expense 56,000 3.50 575,000
Chocolate Treats has the following account balances: $400,000 Rent expense $44,000 Cost of goods sold Depreciation expense Insurance expense 13.500 Salaries expense 56,000 3.50 575,000 Interest expense 10,500 Sales Sales discounts Sales returns and allowances 5,600 Interest revenue 8.900 17.500 Assuming Chocolate Treats uses a multiple step income statement, calculate the following (a) net sales. (b) gross profit, (c) operating expenses. (d) profit from operations, and (e) profit (a) Net sales (b) Gross profit (cl Operating expenses 5 (d) Profit from operations $
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