The following selected information is available for Middleton Wholesalers for September 2025.

Required

(a) Prepare the detailed income statement for Middleton Wholesalers for the month ended 30 September 2025.

(b) Calculate the ratio of gross profit to net sales and express as a percentage.

(c) Calculate the ratio of profit to net sales and express as a percentage.

(d) What might these ratios indicate?

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Purchases Sales Freight inwards Discount received Beginning inventory, 1 September 2025 Ending inventory, 30 September 2025 Purchases returns and allowances Sales returns and allowances Freight outwards Rent expense Sales salaries expense Discount allowed Depreciation expense-office equipment Office supplies expense Office salaries expense $ 93 100 154 800 1 560 1 220 52 200 31 600 1.040 2 600 540 1 300 11 100 2 780 200 310 10 100