Question: Presented below is information for Bach Company for the month of March 2014. Instructions (a) Prepare a multiple-step income statement. (b) Compute the gross profitrate.

Presented below is information for Bach Company for the month of March 2014.

Instructions
(a) Prepare a multiple-step income statement.
(b) Compute the gross profitrate.

Cost of goods sold Freight-out $212,000 Rent expense 32,000 6,600 13,000 380,000 9,000 Sales discounts 6,000 Insurancc cxpcnsc Sales returns and allowances Salaries and wages expese 58,000 Sales revenue

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