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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 Accumulated Depreciation- Equipment 68,000 Common Stock 35,000 Freight-Out 6,200 Depreciation Expense-Equipment 15,300 Gain on Disposal of Plant Assets 5,000 Insurance Expense 9,000 Inventory 46,200 Prepaid Insurance 6,000 Rent Expense 54,000 Salaries Expense 117,000 Salaries Payable 6,000 Utilities Expense 10,600 Accounts Receivable Cash Cost of Goods Sold Equipment Dividends Income Tax Expense Interest Expense Notes Payable (all due 2027) Advertising Expense Retained Earnings Sales Revenue Sales Returns and Allowances $ 17,200 54,100 613.400 157,000 21,000 30,000 2,000 43,500 33,500 41,200 994,000 27,000 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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