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! Required information [ The following information applies to the questions displayed below. ] Reyes Company, prides itself as being the world's leading marketer of
Required information
The following information applies to the questions displayed below.
Reyes Company, prides itself as being the "world's leading marketer of US branded nonathletic footwear." The following data in millions were reported for the second quarter of :
Net Sales
Income Tax Expense
Dividends
Salaries and Wages Expense
Cost of Goods Sold
Interest Expense
$
Prepare a multistep income statement. Enter your answers in millions ie should be entered as
tabletableReyes CompanyIncome Statementin millions
a How much was the gross profit? Enter your answer in millions.
b What was the gross profit percentage? Round your percentage to decimal place.
tablea Gross Profit,,millionb Gross Profit Percentage,,
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