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Problem II (10 pts) The following information is available for AA Supply Company: Sales revenue Sales returns and allowances Cost of goods sold Operating

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Problem II (10 pts) The following information is available for AA Supply Company: Sales revenue Sales returns and allowances Cost of goods sold Operating expenses Income tax rate $600,000 20,000 400,000 100,000 20% structions Use the above information to prepare a multiple-step income statement for the year ended December 31, 2025. Compute the profit margin and the gross profit rate.

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