In 2018, Rondelli Company had net sales of $650,000 and cost of goods sold of...
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Accounting
In 2018, Rondelli Company had net sales of $650,000 and cost of goods sold of $455,000. Operating expenses were $150,000, and interest expense was $10,000. Rondelli prepares a multiple-step income statement.
compute the gross profit rate:
Gross profit rate _______ %
What is Rondellis income from operations and net income?
Income from operations $ ______
Net income $______
If Rondelli prepared a single-step income statement, what amount would it report for net income?
Net income $_____
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