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Presented below is information for Bach Company for the month of March 2014.Cost of goods sold $227,620 Rent expense $ 33,000 Freight-out 8,490 Sales discounts 6,670 Insurance expense 5,330 Sales returns and allowances 12,310 Salaries and wages expense 57,840 Sales revenue 394,090
Presented below is information for Bach Company for the month of March 2014.Cost of goods sold $227,620 Rent expense $ 33,000 Freight-out 8,490 Sales discounts 6,670 Insurance expense 5,330 Sales returns and allowances 12,310 Salaries and wages expense 57,840 Sales revenue 394,090
Presented below is information for Bach Company for the month of March 2014.Cost of goods sold $227,620 Rent expense $ 33,000 Freight-out 8,490 Sales discounts 6,670 Insurance expense 5,330 Sales returns and allowances 12,310 Salaries and wages expense 57,840 Sales revenue 394,090
Presented below is information for Bach Company for the month of March 2014.Cost of goods sold $227,620 Rent expense $ 33,000 Freight-out 8,490 Sales discounts 6,670 Insurance expense 5,330 Sales returns and allowances 12,310 Salaries and wages expense 57,840 Sales revenue 394,090
Presented below is information for Bach Company for the month of March 2014.Cost of goods sold $227,620 Rent expense $ 33,000 Freight-out 8,490 Sales discounts 6,670 Insurance expense 5,330 Sales returns and allowances 12,310 Salaries and wages expense 57,840 Sales revenue 394,090
Presented below is information for Bach Company for the month of March 2014.Cost of goods sold $227,620 Rent expense $ 33,000 Freight-out 8,490 Sales discounts 6,670 Insurance expense 5,330 Sales returns and allowances 12,310 Salaries and wages expense 57,840 Sales revenue 394,090
Presented below is information for Bach Company for the month of March 2014.Cost of goods sold $227,620 Rent expense $ 33,000 Freight-out 8,490 Sales discounts 6,670 Insurance expense 5,330 Sales returns and allowances 12,310 Salaries and wages expense 57,840 Sales revenue 394,090
Presented below is information for Bach Company for the month of March 2014.Cost of goods sold $227,620 Rent expense $ 33,000 Freight-out 8,490 Sales discounts 6,670 Insurance expense 5,330 Sales returns and allowances 12,310 Salaries and wages expense 57,840 Sales revenue 394,090
Presented below is information for Bach Company for the month of March 2014.Cost of goods sold $227,620 Rent expense $ 33,000 Freight-out 8,490 Sales discounts 6,670 Insurance expense 5,330 Sales returns and allowances 12,310 Salaries and wages expense 57,840 Sales revenue 394,090
Presented below is information for Bach Company for the month of March 2014.Cost of goods sold $227,620 Rent expense $ 33,000 Freight-out 8,490 Sales discounts 6,670 Insurance expense 5,330 Sales returns and allowances 12,310 Salaries and wages expense 57,840 Sales revenue 394,090
Presented below is information for Bach Company for the month of March 2014.Cost of goods sold $227,620 Rent expense $ 33,000 Freight-out 8,490 Sales discounts 6,670 Insurance expense 5,330 Sales returns and allowances 12,310 Salaries and wages expense 57,840 Sales revenue 394,090
Presented below is information for Bach Company for the month of March 2014.Cost of goods sold $227,620 Rent expense $ 33,000 Freight-out 8,490 Sales discounts 6,670 Insurance expense 5,330 Sales returns and allowances 12,310 Salaries and wages expense 57,840 Sales revenue 394,090

Cost of goods sold $227,620 Rent expense $ 33,000 Freight-out 8,490 Sales discounts 6,670 Insurance expense 5,330 Sales returns and allowances 12,310 Salaries and wages expense 57,840 Sales revenue 394,090
Cost of goods sold $227,620 Rent expense $ 33,000 Freight-out 8,490 Sales discounts 6,670 Insurance expense 5,330 Sales returns and allowances 12,310 Salaries and wages expense 57,840 Sales revenue 394,090
Cost of goods sold $227,620 Rent expense $ 33,000
Cost of goods sold
$227,620
Rent expense
$ 33,000
Freight-out 8,490 Sales discounts 6,670
Freight-out
8,490
Sales discounts
6,670
Insurance expense 5,330 Sales returns and allowances 12,310
Insurance expense
5,330
Sales returns and allowances
12,310
Salaries and wages expense 57,840 Sales revenue 394,090
Salaries and wages expense
57,840
Sales revenue
394,090

Prepare a multiple-step income statement. BACH COMPANYIncome StatementFor the Month Ended March 31, 2014  DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses $  AddLess:  $     Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses      DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses  DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses     Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses         Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses     $
Prepare a multiple-step income statement. BACH COMPANYIncome StatementFor the Month Ended March 31, 2014  DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses $  AddLess:  $     Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses      DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses  DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses     Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses         Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses     $
Prepare a multiple-step income statement. BACH COMPANYIncome StatementFor the Month Ended March 31, 2014  DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses $  AddLess:  $     Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses      DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses  DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses     Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses         Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses     $

Prepare a multiple-step income statement. BACH COMPANYIncome StatementFor the Month Ended March 31, 2014  DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses $  AddLess:  $     Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses      DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses  DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses     Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses         Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses     $
Prepare a multiple-step income statement. BACH COMPANYIncome StatementFor the Month Ended March 31, 2014  DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses $  AddLess:  $     Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses      DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses  DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses     Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses         Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses     $
Prepare a multiple-step income statement. BACH COMPANYIncome StatementFor the Month Ended March 31, 2014  DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses $  AddLess:  $     Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses      DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses  DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses     Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses         Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses     $
Prepare a multiple-step income statement. BACH COMPANYIncome StatementFor the Month Ended March 31, 2014  DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses $  AddLess:  $     Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses      DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses  DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses     Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses         Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses     $
Prepare a multiple-step income statement. BACH COMPANYIncome StatementFor the Month Ended March 31, 2014  DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses $  AddLess:  $     Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses      DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses  DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses     Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses         Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses     $
Prepare a multiple-step income statement. BACH COMPANYIncome StatementFor the Month Ended March 31, 2014  DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses $  AddLess:  $     Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses      DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses  DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses     Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses         Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses     $
Prepare a multiple-step income statement. BACH COMPANYIncome StatementFor the Month Ended March 31, 2014  DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses $  AddLess:  $     Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses      DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses  DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses     Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses         Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses     $
Prepare a multiple-step income statement. BACH COMPANYIncome StatementFor the Month Ended March 31, 2014  DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses $  AddLess:  $     Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses      DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses  DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses     Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses         Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses     $
Prepare a multiple-step income statement. BACH COMPANYIncome StatementFor the Month Ended March 31, 2014  DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses $  AddLess:  $     Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses      DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses  DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses     Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses         Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses     $

BACH COMPANYIncome StatementFor the Month Ended March 31, 2014  DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses $  AddLess:  $     Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses      DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses  DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses     Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses         Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses     $
BACH COMPANYIncome StatementFor the Month Ended March 31, 2014  DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses $  AddLess:  $     Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses      DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses  DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses     Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses         Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses     $
BACH COMPANYIncome StatementFor the Month Ended March 31, 2014
BACH COMPANYIncome StatementFor the Month Ended March 31, 2014

 DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses
 DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses
 DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses
$

$
 AddLess: 
 AddLess: 
 AddLess
$

$

    Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses    
    Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses    
    Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses    

 DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses
 DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses
 DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses

 DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses
 DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses
 DividendsNet Income / (Loss)Retained Earnings, March 1Retained Earnings, March 31Sales RevenuesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating Expenses

    Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses    
    Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses    
    Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses    

    Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses     $
    Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses    
    Dividends    Net Income / (Loss)    Retained Earnings, March 1    Retained Earnings, March 31    Sales Revenues    Total Revenues    Net Sales    Gross Profit    Operating Expenses    Total Operating Expenses    
$

Compute the gross profit rate.(Round answer to 2 decimal places, e.g. 25.20%.)

Gross profit rate  %
Gross profit rate  %
Gross profit rate  %
Gross profit rate

 %

July 1 Purchased suitcases on account for $2,300 from Trunk Manufacturers, FOB destination, terms 2/10, n/30. The appropriate party also made a cash payment of $100 for freight on this date. 3 Sold suitcases on account to Satchel World for $3,700. The cost of suitcases sold is $2,220. 9 Paid Trunk Manufacturers in full. 12 Received payment in full from Satchel World. 17 Sold suitcases on account to Lady GoGo for $2,800. The cost of the suitcases sold was $1,680. 18 Purchased suitcases on account for $1,850 from Holiday Manufacturers, FOB shipping point, terms 2/10, n/30. The appropriate party also made a cash payment of $120 for freight on this date. 20 Received $390 credit (including freight) for suitcases returned to Holiday Manufacturers. 21 Received payment in full from Lady GoGo. 22 Sold suitcases on account to Vagabond for $3,200. The cost of suitcases sold was $1,920. 30 Paid Holiday Manufacturers in full. 31 Granted Vagabond $220 credit for suitcases returned costing $132.
July 1 Purchased suitcases on account for $2,300 from Trunk Manufacturers, FOB destination, terms 2/10, n/30. The appropriate party also made a cash payment of $100 for freight on this date. 3 Sold suitcases on account to Satchel World for $3,700. The cost of suitcases sold is $2,220. 9 Paid Trunk Manufacturers in full. 12 Received payment in full from Satchel World. 17 Sold suitcases on account to Lady GoGo for $2,800. The cost of the suitcases sold was $1,680. 18 Purchased suitcases on account for $1,850 from Holiday Manufacturers, FOB shipping point, terms 2/10, n/30. The appropriate party also made a cash payment of $120 for freight on this date. 20 Received $390 credit (including freight) for suitcases returned to Holiday Manufacturers. 21 Received payment in full from Lady GoGo. 22 Sold suitcases on account to Vagabond for $3,200. The cost of suitcases sold was $1,920. 30 Paid Holiday Manufacturers in full. 31 Granted Vagabond $220 credit for suitcases returned costing $132.
July 1 Purchased suitcases on account for $2,300 from Trunk Manufacturers, FOB destination, terms 2/10, n/30. The appropriate party also made a cash payment of $100 for freight on this date.
July 1
Purchased suitcases on account for $2,300 from Trunk Manufacturers, FOB destination, terms 2/10, n/30. The appropriate party also made a cash payment of $100 for freight on this date.
3 Sold suitcases on account to Satchel World for $3,700. The cost of suitcases sold is $2,220.
3
Sold suitcases on account to Satchel World for $3,700. The cost of suitcases sold is $2,220.
9 Paid Trunk Manufacturers in full.
9
Paid Trunk Manufacturers in full.
12 Received payment in full from Satchel World.
12
Received payment in full from Satchel World.
17 Sold suitcases on account to Lady GoGo for $2,800. The cost of the suitcases sold was $1,680.
17
Sold suitcases on account to Lady GoGo for $2,800. The cost of the suitcases sold was $1,680.
18 Purchased suitcases on account for $1,850 from Holiday Manufacturers, FOB shipping point, terms 2/10, n/30. The appropriate party also made a cash payment of $120 for freight on this date.
18
Purchased suitcases on account for $1,850 from Holiday Manufacturers, FOB shipping point, terms 2/10, n/30. The appropriate party also made a cash payment of $120 for freight on this date.
20 Received $390 credit (including freight) for suitcases returned to Holiday Manufacturers.
20
Received $390 credit (including freight) for suitcases returned to Holiday Manufacturers.
21 Received payment in full from Lady GoGo.
21
Received payment in full from Lady GoGo.
22 Sold suitcases on account to Vagabond for $3,200. The cost of suitcases sold was $1,920.
22
Sold suitcases on account to Vagabond for $3,200. The cost of suitcases sold was $1,920.
30 Paid Holiday Manufacturers in full.
30
Paid Holiday Manufacturers in full.
31 Granted Vagabond $220 credit for suitcases returned costing $132.
31
Granted Vagabond $220 credit for suitcases returned costing $132.
Granted Vagabond $220 credit for suitcases returned costing $132.

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