Question 6

1. The adjusted trial balance of Dawson Company contained the following information.Assume the tax rate is33%:
2. DebitCredit
3. Sales revenue$425,000
4. Sales returns and allowances$20,000
5. Sales discounts5,000
6. Cost of goods sold300,000
7. Operating expenses61,000
8. Interest revenue2,000
9. Interest expense1,000
11. Compute the gross profit. rate(%)