Presented below is information for Bramble Company for the month of March 2020.

Cost of goods sold		$224,200		Rent expense		$32,950
Freight-out		6,420		Sales discounts		7,020
Insurance expense		5,540		Sales returns and allowances		13,390
Salaries and wages expense		57,220		Sales revenue		391,350

a.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).)

b. Compute the gross profit rate. (Round answer to 2 decimal places, e.g. 25.20%.)