Profit margain %

Gross profit rate %

Revised net income

Revised profit margain %

Revised gross profit rate%

Wolford Department Store is located in midtown Metropolis. During the past several years, net income has been declining because suburban shopping centers have been attracting business away from areas. At the end of the company's fiscal year on November 30, 2017, these adjusted trial balanoe city accounts appeared in its Accounts Payable $ 32,160 Accounts Receivable 20,640 Accumulated Depreciation-Equipment 81,600 Cash 9,600 Common Stock 42,000 Cost of Goods Sold 737,160 Freight-Out 7,440 Equipment 188,400 Depreciation Expense 16,200 Dividends 14,400 Gain on Disposal of Plant Assets 2,400 Income Tax Expense 12,000 Insurance Expense 10,800 Interest Expense 6,000 Inventory 31,440 Notes Payable 52,200 Prepaid Insurance 7,200 Advertising Expense 40,200 Rent Expense 40,800 Retained Earnings 17,040 Salaries and Wages Expense 140,400 Sales Revenue 1,084,800 Salaries and Wages Payable 7,200 Sales Returns and Allowances 24,000 Utilities Expense 12,720