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Presented below is information for ABC Company for the month of March 2020 Cost of goods sold $ 215,000 Rent expense Freight-out 7,000 Sales discounts Insurance expense 6,000 Salaries and wages expense 58,000 Sales revenue Interest revenue 5,000 Interest expense $ 30,000 8,000 13,000 380,000 2,000 Sales returns and allowances -2 Instructions a. Prepare a multiple-step income statement. Compute the gross profit rate. b