Presented below is information for Kaila Company for the month of March 2017.

Cost of goods sold		$228,450		Rent expense		$ 33,320
Freight-out		6,410		Sales discounts		8,480
Insurance expense		5,570		Sales returns and allowances		12,070
Salaries and wages expense		55,660		Sales revenue		394,030

Prepare a multiple-step income statement.

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