ACCOUNTING

Assume Kader Company has the following reported amounts: Sales revenue $510,000, Sales returns and allowances $15,000, Cost of goods sold $330,000, and Operating expenses $110,000. (a) Compute net sales.

Net sales

$

(b) Compute gross profit.

Gross profit

$

(c) Compute income from operations.

Income from operations

$

(d) Compute the gross profit rate.  (Round answer to 1 decimal place, e.g. 25.2%.)

Gross profit rate

%