Question 32 Presented below is information for Annie Company for the month of March 2015 Cost of goods sold Freight-out Insurance expense Salaries and wages expense $245,000 7,000 5,000 63,000 Rent expense Sales discounts Sales returns and allowances Sales revenue $36,000 8,000 11,000 410,000 Prepare a multiple -step income statement. ANNIE COMPANY Income Statement SHOW LIST OF ACCOUNTS Compute the gross profit rate. (Round answer to 1 decimal places, e.g. 52.7%.) Gross profit rate