In 2020, Pronghorn Company had net sales of $912,000 and cost of goods sold of $556,320. Operating expenses were $225,000, and interest expense was $14,000. Pronghorn prepares a multiple-step income statement. (a) Compute Pronghorn's gross profit. Gross profit $ e Textbook and Media Save for Later Attempts: unlimited Submit Answer (61) Compute the gross profit rate. Gross profit rate % e Textbook and Media Save for Later Attempts: unlimited Submit Answer (c) What is Pronghorn's income from operations and net income? Income from operations $ Net income $ e Textbook and Media Save for Later Attempts: unlimited Submit Answer (d) If Pronghorn prepared a single-step income statement, what amount would it report for net income? Net income in Pronghorn's single-step income statement $ e Textbook and Media Save for Later Attempts: unlimited Submit Answer (e) In what section of its classified balance sheet should Pronghorn report inventory? Inventory is reported as a immediately below e Textbook and Media Save for Later Attempts: unlimited Submit