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) DEL CORPORATION Protist Credit 1619.000 Sales Cost of Goods sold Sales turned Allowances ales Discount eing Expense dintre General twee TecTax Expense Set The 1218.500 9.30 5. 57.100 15, 1.000 14.30 35,100 419.00 113,000 Required: 1. Prepare a multi-step income statement that would be used for internal reporting purposes. Treat Sales Returns and Alarices as well as Sales Discounts as contrevenue accounts DOLLY CORPORATION Termended December 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. OLLY CORPORATION For the Year Ended Dec 11 Operating expens 0 2. Prepare a multi-step Income statement that would be used for external reporting purposes, beginning with the amount for Net Sales BIG BILLY CORPORATION Income Statement For the Year Ended December 0 5 3. Compute the gross profit percentage. (Round your answer to 1 decimal place)