b.	Compute the gross profit percentage. (Round your answer to the nearest whole percent (i.e., 0.1234 should be entered as 12.3).)

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 Cost of Goods Sold Delivery Expense Insurance Expense Income Tax Expense Rent Expense Interest Expense Sales Revenue Sales Discounts Sales Returns and Allowances $10,400 88,600 5,400 600 5,720 11,400 1.400 160,300 10,700 17,500 Required a. Prepare a multistep income statement Mulberry Street Sportswear Income Statement For the year ended December 31 S 160,300 88,600 et Sales Cost of Goods Sold Gross Profit elling, General, and Administrative Expenses ncome from Operations Other Revenue (Expenses), net ncome betore Income Tax Expense ncome Tax Expense et Income