3. Preparing a multi-step income statement and calculating gross profit percentage. (14 MARKS) 3-1. The records of Hill Tower Steak Company list the following selected accounts for the quarter ended September 30. 2012: Interest revenue $400 Accounts payable $16,500 Inventory 45,700 Accounts receivable 33900 Note payable, long-term 42,000 Accumulated depreciation 37,500 Salary payable3, 400 Holstein, capital, Jun 30 52,900 Sales discounts 2,200 Holstein, drawing 18.500 Sales returns and allowances 8,400 Cash 8,100 Sales revenue 296,700 Cost of goods sold 162,400 Selling expense 37,500 Equipment 125,000 Supplies 6,000 General expense 16,100 Unearned sales revenue 13, 200 Interest payable 1,200 Requirements 1. Prepare a multi-step income statement. (10MARKS) 3-2. Journalizing closing entries-perpetual inventory. Rockwell Center's accounting records include the following accounts at December 31, 2019. COGS Accumulated depreciation $39,000 $385,000 Account payable 17,000 Cash 43,000 Rent expense 21,000 Sales revenue 696,000 Building 108,000 Depreciation expense 12,000 Rockwell, drawing Inventory 261,000 Sales discounts Rockwell, capital 208,800 Requirement: Journalize the required closing entries for Rockwell Center for the July 31,2019. (4MARKS) 61,000 9,000