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Chocolate Treats has the following account balances: Cost of goods sold Depreciation expense Insurance expense Interest expense Interest revenue $400,000 12,500 3,300 10,500 9,400 Rent
Chocolate Treats has the following account balances: Cost of goods sold Depreciation expense Insurance expense Interest expense Interest revenue $400,000 12,500 3,300 10,500 9,400 Rent expense Salaries expense Sales Sales discounts Sales returns and allowances $45,000 55,000 555,000 5.800 15,500 Assuming Chocolate Treats uses a multiple-step income statement, calculate the following: (a) net sales, (b) gross profit. (d) operating expenses. (d) profit from operations, and (e) profit. (a) Net sales $ (b) Gross profit Id Operating expenses (d) Profit from operations $ $ le) Profit $
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