Amy's Beauty Supply Store has the following information available at the end of the month. Sales Revenue $$161,500$; Sales Returns $$17,900$; Sales Discounts $$10,300$; Purchase discounts $$11,400$; Shipping on purchases $$5,500$; Cost of Goods Sold $$87,400$; Inventory $$164,700.$ Create a multi$-$step income statement for the company $($through Gross Profit$).$

a$.$ Prepare a partial multi$-$step income statement $($through Gross Profit$).$

b$.$ Compute the gross profit percentage.

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Prepare a multistep income statement $($through Gross Profit$).$

MULBERRY STREET SPORTSWEAR

Income Statement

For the Year Ended December $31$