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Short-term Statement of stockholders' equity C. Short-term Income statement D. Long-term Balance sheet Which statement is true? A. Discontinued operations are a separate category on the income statement. B. Extraordinary items are combined with continuing operations on the income statement. C. Extraordinary items are part of discontinued operations. Hazard Company had anan $18,000 beginning inventory and aa $25,000 ending inventory. Net sales ere $153,000; purchases, $76,000; purchase returns and allowances, $3,000; and freight in, $9,000. Cost of goods sold for the period is $75,000.What is Hazard gross profit percentage (rounded to the nearest percentage)? ------------------------------------------------------------------------------- ACCT 504 Week 4 Quiz