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Presented below is information for Indigo Depot for 2022. Interest expense $38,500 Operating expenses $215,000 Interest revenue 44,000 Cost of goods sold 595,700 Net sales
Presented below is information for Indigo Depot for 2022. Interest expense $38,500 Operating expenses $215,000 Interest revenue 44,000 Cost of goods sold 595,700 Net sales 851,000 Loss on disposal of equipment 3,800 Prepare a single-step income statement, a multiple-step income statement, and compute the gross profit rate. (List other revenues before other expenses. Round Gross profit rate to 2 decimal places, eg. 25.20)
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