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  1. business
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  3. the following summarized data were provided by the

The following summarized data were provided by the records of Slate Inc. for the year...

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Accounting

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The following summarized data were provided by the records of Slate Inc. for the year ended December 31, 2020: Sales of merchandise for cash Sales of merchandienon credit Cost of sales Selling expenses Administrative expenses Salon returns and allowancen Bad debt expense Items not included in the above amounts Average income tax rate, 309 Number of common shares outstanding. 3,000 $224,000 34,000 151,000 40,600 19,400 7,400 1.020 Required: 1. Based on these data, prepare a multiple-step statement of earnings (showing both gross profit/(joss) and earnings from operations). (Round "Earnings per share" to 2 decimal places.) SLATE, INC Statement of Earnings For the Year Ended December 31, 2020 0 0 Operating expenses SLATE, INC Statement of Earnings For the Year Ended December 31, 2020 D 0 Operating expenses 0 Earnings before income tax 0 $ 0 Earnings per share 2. Compute the amount of gross profit/(Loss) and the gross profit/loss) percentage. (Round percentage answer to the nearest whole percent (.e., 0.124 should be entered as 12).) %

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