The following information is taken from the accounts of Xeno's Music Store for the current year ended 31 December.

Of the rent expense, five-sixths is applicable to the shop and one-sixth is applicable to the office.
Required:
a Prepare a classified income statement for Xeno's Music Store for the current year.
b Calculate the profit margin.
c Calculate the gross profit percentage. Does this percentage fall near the high or the low end of the range of typical retail businesses' gross profit percentages?

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Depreciation expense: office equipment Interest revenue Sales salaries expense Rent expense Depreciation expense: shop equipment Sales revenue (net) Office salaries expense Interest expense Office supplies expense Cost of goods sold Advertising expense $ 1920 870 9 840 2160 2880 113 040 4800 300 720 71 280 432