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AP4-9A (Statement of income presentation) You have been provided with the following account balances for Webber Ltd. for the years ended November 30, 2024
AP4-9A (Statement of income presentation) You have been provided with the following account balances for Webber Ltd. for the years ended November 30, 2024 and 2025: Advertising expense Cost of goods sold General and administrative expenses Income tax expense Interest revenue Rent expense Sales revenue Utilities expense 2025 $310,000 2024 1,456,000 105,000 102,000 $ 320,000 1,764,000 112,000 82,000 5,200 36,000 6,100 27,000 3,150,000 2,800,000 88,000. 504,000 76,000 492,000 Wages expense Required a. Prepare a multi-step, comparative statement of income for Webber for 2024 and 2025- b. Determine Webber's gross margin percentage for each year. In which year was Webber more successful in this area? c. Did the year with the superior gross margin percentage also have the largest net income? Explain why this may or may not be the case.
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