Exercise 5A 9 a b Presented below is information for Pharoah Company for the month of March 2017 Purchases $ 33,000 8,000 Freight-in Purchase returns and allowances Salaries and wages expense $211,739 7,000 6,000 55,000 Rent expense Sales discounts Sales returns and allowances 12,000 383,000 Sales revenue Beginning inventory was $47,000, and ending inventory was $59,000, PHAROAH COMPANY Income Statement Net Purchases Sales Revenue Sales Returns and Awances $ SHOW LIST OF ACCOUNTS Compute the gross profit rate. (Round answer to 2 decimal places, e.g. 25.20%.) Gross profit rate % Click if you would like to show Work for this question: Onen Show Work