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Question 6) Superman Department Store is located in midtown Metropolis. At the end of the company's fiscal year on March 31, 2021, these accounts appeared

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Question 6) Superman Department Store is located in midtown Metropolis. At the end of the company's fiscal year on March 31, 2021, these accounts appeared in its adjusted trial balance. Accounts Payable $26,800 Accounts Receivable $ 17,200 Accumulated Depreciation Equipment 68,000 Cash 54,100 Common Stock 35,000 Cost of Goods Sold 613,400 Freight-Out 6,200 Equipment 157,000 Depreciation Expense-Equipment 15,300 Dividends 21,000 Gain on Disposal of Plant Assets 5,000 Income Tax Expense 30,000 Insurance Expense 9,000 Interest Expense 2,000 Inventory 46,200 Notes Payable (all due 2027) 43,500 Prepaid Insurance 6,000 Advertising Expense 33,500 Rent Expense 54,000 Retained Earnings 41,200 Salaries Expense 117,000 Sales Revenue 994,000 Salaries Payable 6,000 Sales Returns and Allowances 27,000 Utilities Expense 10,600 Instructions (in color): A. Prepare a multiple-step income statement, a retained earnings statement, and a classified balance sheet. B. Calculate the profit margin and the gross profit rate (make sure final answer is 2 decimals as a %)

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