(Answered) In 2015 rondelli company had net sales of 650000 and cost

Accounting

In 2015, 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.

1. Compute Rondelli gross profit

2. Compute the gross profit rate

3. What is Rondelli income from operations and net income?

4. If Rondelli prepared a single-step income statement, what amount would it report for net income?

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