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Selected accounts and other Information from the records of Calderone Company for the year ended December $31$ follow: Complete this question entering your answers in the tabs below.

Req $2$

Req $3a$

Req $3$b

Compute the following items that would appear on a classified income statement. The company combines both selling and

general and administrative expenses into a single line, Operating Expenses. Complete this question entering your answers in the tabs below.

Req$3a$

Req $3$ b

Prepare a summarized income statement for Calderone Company for the current year. Complete this question entering your answers in the tabs below.

Req $2$

Req $3a$

Req $3b$

Compute the ratio for gross profit percentage.Complete this question entering your answers in the tabs below.

Req $2$

Req $3a$

Req $3b$

Compute the ratio for inventory turnover.

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Compute the following Items that would appear on a classified Income statement. The company combines both selling and general

and administrative expenses into a single line, Operating Expenses.

a$.$ Net sales

b$.$ Cost of goods sold

c$.$ Gross profit

d$.$ Operating expenses

e$.$ Net Income from operations

f$.$ Other Income, net

g$.$ Net income for year

Prepare a summarized Income statement for Calderone Company for the current year.

Compute the following ratios:

a$.$ Gross profit percentage

b$.$ Inventory turnover

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