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anyone can help please? The following is a listing of all of the Income statement accounts for Mulberry Street Sportswear as they appear on the
anyone can help please?
The following is a listing of all of the Income statement accounts for Mulberry Street Sportswear as they appear on the adjusted trial balance as of December 31 Advertising Expense $ 10,600 Cost of Goods Sold 88,300 Delivery Expense 5,200 Insurance Expense 700 Income Tax Expense 6,280 Rent Expense 10,900 Interest Expense 2,300 Sales Revenue 160,800 Sales Discounts 9,400 Sales Returns & Allowances 18,700 Required: a. Prepare a multistep income statement include all operating expenses in one line item called "Seling, General and Administrative Expenses" and all non-operating revenues(expenses) in one line item called "Other Revenue (Expenses), net". b. Compute the gross profit percentage. Complete this question by entering your finswers in the tabs below. Required A Required B Prepare a multistep Income statement. Include all operating expenses in one line itern called "Selling, General and Administrative Expenses and all non-operating revenues(expenses) in one line item called "Other Revenue (Expenses), net", MULBERRY STREET SPORTSWEAR Income Statement The following is a listing of all of the income statement accounts for Mulberry Street Sportswear as they appear on the adjusted trial balance as of December 31 15 Advertising Expense Cost of Goods Sold Delivery Expense Insurance Expense Income Tax Expense Rent Expense Interest Expense Sales Revenue Sales Discounts Sales Returns & Allowances $ 10,600 88,300 5,280 700 6,280 10,900 1,300 160,800 9,400 18,700 Required: a. Prepare a multistep income statement. Include all operating expenses in one line item called "Selling, General and Administrative Expenses and all non-operating revenueslexpenses) in one line item called "Other Revenue (Expenses), net". b. Compute the gross profit percentage. Complete this question by entering your answers in the tabs below. Required A Required Compute the gross profit percentage. (Round your answer to 1 decimal place (I., 0.1234 should be entered as 12.3).) Gross Profit Step by Step Solution
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