Exercise 5-12 a, b1, c-e

In 2020, Marigold Corp. had net sales of $976,700 and cost of goods sold of $543,400. Operating expenses were $223,700, and interest expense was $11,600. Marigold prepares a multiple-step income statement.

Compute Marigold's gross profit. Gross profit Compute the gross profit rate. (Round answer to 1 decimal place, e.g. 25.2%.) Gross profit rate % What is Marigold's income from operations and net income? Income from operations $ Net income $ If Marigold prepared a single-step income statement, what amount would it report for net income? Net income in Cruz's single-step income statement In what section of its classified balance sheet should Marigold report inventory? Inventory is reported as a immediately below