Accumulated depreciation: Buildings. Sales..... Accounts payable. Sales returns. Advertising expense. Buildings..... Cash. Inventory..... Purchase discounts. Purchase returns... Transportation In.. Josh Anderson, (Proprietor). Sales discounts... Depreciation expense. Office supplies.. Purchase allowances. Accounts receivable.. Sales allowances.. Purchases... The Icecream Shop Adjusted Trial Balance December 31, 2018 40,000 415,000 59,437 2,000 9,186) 100,000 8,960 32,604 3,286 9,000 3,560 32,800 CR 7,000 10,000 1,799 4,000 25,600 6,000 Property tax expense Store supplies expense.. Wages expense..... 276,000 14,625 3,814 62,375 REQUIRED (NOTE THAT ALL ACCOUNTS HAVE THEIR NORMAL DEBIT OR CREDIT BALANCES): a. The inventory on hand at December 31, 2018 was $25,878. Use this information to prepare ONLY the part of a classified, multiple-step income statement under the PERIODIC SYSTEM that shows the SALES, COST OF GOODS SOLD, and GROSS PROFIT SECTIONS (12 marks). b. Calculate the gross margin (or gross profit) percentage (2 marks).