Question: Exercise 9: Prepare an income statement Presented below is information for Obley Company for the month of March 2020. Cost of goods sold Freight-out Insurance

Exercise 9: Prepare an income statement Presented below is information for Obley Company for the month of March 2020. Cost of goods sold Freight-out Insurance expense Salary expense Instructions (a) Prepare an income statement (b) Compute the gross profit rate

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