Question: Prepare the multi-step income statement from the information provided. Then calculate the gross profit rate and calculate the net profit margin 3. Please prepare the

Prepare the multi-step income statement from the information provided. Then calculate the gross profit rate and calculate the net profit margin

3. Please prepare the multi-step Income statement from the following information: Sales Return $15,000 Other Revenue $90,000 Cost of Goods Sold $145,000 Gross Sales Revenue $195,000 Sales Discount $10,000 Operating Expenses $65,000 Other Expenses $35,000 Please show your calculations for: a. Net Revenue b. Gross Profit c. Operating Profit/(Loss) from Operations d. Net Profit Start here: 5% Bonus: Calculate the Gross Profit Rate: (Gross Profit / Net Sales Revenue) Calculate the Net Profit Margin: (Net Profit / Net Sales Revenue) Page 3 of 3

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