Exercise 5-9 Presented below is information for Furlow Company for the month of March 2017. Cost of goods sold Freight-out Insurance expense Salaries and wages expense $231,460 6,860 5,900 58,280 Rent expense Sales discounts Sales returns and allowances Sales revenue $30,380 7,680 13,120 393,970 Prepare a multiple-step income statement. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) FURLOW COMPANY Income Statement Compute the gross profit rate. (Round answer to 2 decimal places, eg. 25.25%.) Gross profit rate 0 0