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For each of the following, identify in Column 1 the category to which the account belongs, in Column 2 the normal balance for the account, in Column 3 the financial statement in which the account balance is reported, and in Column 4 the account's nature (permanent/temporary).
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Rate of Markdown
The percentage decrease from the original price to the sale price.
Operating Expenses
Costs associated with the day-to-day operations of a business or organization.
Wholesale Price
The cost of goods sold in large quantities, usually to retailers rather than directly to consumers.
Mark-up on Cost
The percentage added to the cost price of goods to cover overhead and profit.
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