XXX X XXX Sales Less Cost of Goods Sold TEM ONE Zess Total Operating Expenses ITEM TWO Plus: Other Income (Less: Other Expenses ITEM THREE XXX XXX XKX XX What caption should replace ITEM TWO? a. Income (Loss) from Operations b. Merchandise Inventory c. Gross Profit d. Net Income (Loss) QUESTION 33 On March 23, Xxx Company signed a note promising to pay zzz Company $10,000 plus interest at a rate of 6% in 30 days. The agreement called for interest to be calculated using a 360 day year. How much interest will accrue over the term of the note? QUESTION 34 Rhino Products, an online retailer, had the following purchase and sales activity for a particular inventory item during the month of August. Units Cost Aug. 1 - Inventory $ 129 Aug. 19 - Purchase $ 129 Aug 21 - Purchase $ 142 Selling Price Aug 26 - Sale 5210 If Rhino Products uses the Best Best-out inventory costing method, what amount of merchandise Inventory will the company report at the end of August