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S Support Chocolate Treats has the following account balances: Cost of goods sold Depreciation expense Insurance expense Interest expense Interest revenue $390,000 13,500 3.400 11.500
S Support Chocolate Treats has the following account balances: Cost of goods sold Depreciation expense Insurance expense Interest expense Interest revenue $390,000 13,500 3.400 11.500 8,800 Rent expense Salaries expense Sales Sales discounts Sales returns and allowances $44,000 54,000 565,000 5,800 17,500 Assuming Chocolate Treats uses a multiple-step income statement, calculate the following: (a) net sales, (b) gross proht, (c) operating expenses. (d) profit from operations, and le) profit (a) Net sales $ 541700 (b) Gross profit $ 160500 (c) Operating expenses S 1226400 (d) Profit from operations $ 161500 (e) Profit S 158900 e Textbook and Media
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