Presented below is information for Oakley Company for the month of March 2020.

Cost of goods sold $254,000

Rent expense $36,000

Freight-out 7,500

Sales discounts 8,800

Insurance expense 5,000

Sales returns and allowances 11,000

Salaries and wages expense 75,000

Sales revenue 425,000

Prepare a multiple -step income statement.

Garrett is an executive vice president at samm hardware. he researches a proposal by a larger company, maximum hardware, to combine the two companies. by analyzing past performance, conducting focus groups, and interviewing maximum employees, garrett concludes that maximum has poor profit margins, sells shoddy merchandise, and treats customers poorly. what actions should garrett and samm hardware take? a. turn down the acquisition offer and prepare to resist a hostile takeover. b. attempt a friendly merger and use managerial hubris to improve results at maximum. c. welcome the acquisition and use knowledge transfer to impart sam hardware's management practices. d. do nothing; the two companies cannot combine without samm hardware's explicit consent.