Presented below is information for Zhou Co. for the month of January 2014. Instructions (a) Prepare an

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Presented below is information for Zhou Co. for the month of January 2014.

Instructions
(a) Prepare an income statement using the format presented on page 245. Assume a 25% tax rate.
(b) Calculate the profit margin and the gross profitrate.

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Accounting Tools for Business Decision Making

ISBN: 978-1118128169

5th edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Question Posted: Apr 07, 2014 10:47 AM

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Presented below is information for Zhou Co. for the month of January 2014. Instructions (a) Prepare an

Question:

Cost of goods sold Freight-out Insurance expense Salaries and wages expense 32,000 8,000 12,000 Sales returns and allowances 20,000 370,000 $212,000 Rent expense 7,000 Sales discounts 60,000 Sales revenue

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a ZHOU Co Income Statement For the Month Ended January 31 2014 Sales Sa...View the full answer

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