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1) Red Co. had gross sales revenue of 1,263,560, cost of goods sold of 668,625, and...

1) Red Co. had gross sales revenue of 1,263,560, cost of goods sold of 668,625, and sales returns of 42,416. Calculate Net Sales

2) Orange Co. had gross sales revenue of 1,388,656, cost of goods sold of 695,476, and sales returns of 42,985. Calculate the dollars of gross profit earned.

3) Yellow Co. had gross sales revenue of 1,109,405, cost of goods sold of 681,768, and sales returns of 41,292. Calculate the gross margin rate (gross profit rate). Round to 2 decimals (e.g., 0.14).

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