Question 27 Presented below is information for Grouper Company, Ltd. for the month of March 2017. Cost of goods sold Freight-Out Insurance expense Salaries and wages expense 216,030 9,370 5,630 60,010 Rent expense Sales discounts Sales returns and allowances Sales revenue Other comprehensive income 34,900 5,820 13,370 394,320 2,110 Prepare an income statement. GROUPER COMPANY, LTD. Income Statement Prepare a comprehensive income statement. GROUPER COMPANY, LTD. Comprehensive Income Statement Compute the gross profit rate. (Round answer to 2 decimal places, e.g. 25.20%.) Gross profit rate %