s View Policies Show Attempt History Current Attempt in Progress Presented below is information for Novak Company for the month of March 2020, Cost of goods sold Freight-out Insurance expense Salaries and wages expense $230,170 6,080 5.230 56,720 Rent expense Sales discounts Sales returns and allowances Sales revenue $32.270 8,190 12,200 389.630 (a) Your Answer Correct Answer (Used) Prepare a multiple-step income statement. (Enter negative amounts using either a negative sin preceding the number eg. 45 or parentheses eg. (451) NOVAK COMPANY Income Statement For the Month Ended March 31, 2020 pe here to search o Alarm Compute the gross profit rate. (Round answer to 2 decimal places, eg, 25.20%) Gross profit rate 94