Cost of Goods Sold $500,000 Net Sales 975,000 Selling Expenses 150,000 Interest Expense 25,000 Administrative Expenses 175,000 Common Stock Dividends...

1. Prepare a multiple-step income statement for the year ended December 31, 2014

2. Compute the gross margin percentage and net profit margin ratio. Caldor Company’s assets at the beginning of the year were $900,000, and the assets were $950,000 at the end of the year. To qualify for full credit, you must state the formula you are using, show your computations, and explain your findings