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It follows AAA SIMILARITY Relation
The preparation of Reading Readiness, Inc.'s multi-step Income Statement for the month ended January 31 is as follows:
Reading Readiness, Inc.
Income Statement
For the month ended January 31
Sales Revenue $175,500
Less:
Sales Returns 4,700
Sales Discounts 6,000
Net Sales $164,800
Cost of Goods Sold 67,700
Gross profit $97,100
Expenses:
Salaries and Wages $25,900
Depreciation Expense 13,800
Rent Expense 24,000
Operating expenses $63,700
Operating income $33,400
Interest Expense 1,600
Income before tax $31,800
Income tax expense 7,700
Net income $24,100
Data and Calculation:
Gross profit percentage = 59% ($97,100/$164,800 x 100)
Thus, the net income after deducting the income tax expense is $24,100.
Learn more: brainly.com/question/24257787
Answer:
37 miles per hour
Step-by-step explanation:
To find the average rate (average speed) of Latoya in miles per hour, you would divide the distance traveled (in miles) by the time taken to travel (in hours).
So we know that Latoya traveled 8 miles in 13 minutes. We cannot divide 8 by 13, because 13 is in minutes, not hours. We must convert 13 minutes to hours before dividing.
There are 60 minutes in one hour, so to covert minutes into hours, we would divide the minutes (13) by 60. Doing this would give you 13/60. You cannot simplify the fraction 13/60, because 13 is a prime number. It would be best to just leave it as it is for now. So Latoya traveled for 13/60 hours.
Now, to find her average rate in miles per hour, you divide the distance traveled in miles (8 miles) by the time it took to travel in hours (13/60):
8 ÷ 13/60
Remember, a ÷ b/c = a × c/b. Using this:
8 ÷ 13/60 = 8 × 60/13 = 480/13 ≈ 37 rounded to the nearest whole number.
Latoya had an average rate of about 37 miles per hour.
I hope this helps. :)
