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Question 5 --/1 View Policies Current Attempt in Progress In its income statement for the...

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Accounting

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Question 5 --/1 View Policies Current Attempt in Progress In its income statement for the year ended December 31, 2017, Crane Company reported the following condensed data. Salaries and wages expenses Cost of goods sold Interest expense Interest revenue Depreciation expense $450,000 Loss on disposal of plant assets 1,231,200 Sales revenue 69,000 Income tax expense 102,700 Sales discounts 310,000 Utilities expense $83,500 2,410,000 25,000 130,000 100,000 CRANE COMPANY Income Statement $ Calculate the profit margin and gross profit rate. (Round answers to 0 decimal places, e.g. 15%.) Profit margin Gross profit rate e Textbook and Media List of Accounts

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