In 2022, Cheyenne Company had net sales of $901,000 and cost of goods sold of $594,660. Operating expenses were $224,700, and interest expense was $13,100. Cheyenne prepares a multiple-step income statement. Compute Cheyenne's gross profit. Gross profit $ e Textbook and Media Compute the gross profit rate. Gross profit rate % What is Cheyenne's income from operations and net income? Income from operations $ Net income $ e Textbook and Media If Cheyenne prepared a single-step income statement, what amount would it report for net income? Net income in Cheyenne's single-step income statement e Textbook and Media In what section of its balance sheet should Cheyenne report inventory? Inventory is reported as a v immediately below