Big Billy Corporation is a local grocery store organized seven years ago as a corporation. The store is in an excellent location, and sales have increased each year. The bookkeeper prepared the following statement (assume that all amounts are correct. but note the incorrect terminology and format): Required: 1. Prepare o multi-step income statement that would be used for internal reporting purposes. Treat Sales Returns and Allowances as well as Sales Discounts as contra-revenue accounts. Required: 1. Prepare a multi-step income statement that would be used for internal reporting purposes. Treat Sales Returns and Allowances as well as Sales Discounts as contra-revenue accounts. 2. Prepare a multi-step income statement that would be used for external reporting purposes, boginning with the amount for Net Sales 3. Compute the gross profit percentoge, (Round your answer to 1 decimal phace.)