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Chocolate Treats has the following account balances: Cost of goods sold Depreciation expense Insurance expense Interest expense Interest revenue $380,000 13,500 3,100 11,500 8,700 Rent

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Chocolate Treats has the following account balances: Cost of goods sold Depreciation expense Insurance expense Interest expense Interest revenue $380,000 13,500 3,100 11,500 8,700 Rent expense Salaries expense Sales Sales discounts Sales returns and allowances $43,000 55,000 565,000 5,400 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

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