Check my work P5-3 (Algo) Preparing a Classified (Multiple-Step) Income Statement and Interpreting the Gross Profit Percentage LO5-3 The Max, Incorporated, is a leading fashion retailer that offers customers an extensive selection of high-quality fashion brands focused on apparel, shoes, cosmetics, and accessories for women, men, young adults and children. The items reported on its income statement for an earlier year (ended February 1) are presented here (dollars in millions) in simplified form in alphabetical order. Cost of goods sold Interest expense Net revenue Other selling, general, and administrative expenses Income tax expense Weighted average shares outstanding Required: $ 10,546 110 16,224 4,908 166 155 a. Prepare a classified (multiple-step) consolidated income statement (showing gross profit, operating income, and income before income taxes). b. What is the gross profit percentage? Required: a. Prepare a classified (multiple-step) consolidated income statement (showing gross profit, operating income, and income before income taxes). b. What is the gross profit percentage? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a classified (multiple-step) consolidated income statement (showing gross profit, operating income, and income before income taxes). Note: Enter your answers in millions not in dollars (i.e., 10,000,000 should be entered as 10). Round "Earnings per share" to 2 decimal places. THE MAX, INCORPORATED Consolidated Income Statement For the Year Ended February 1, Current Year (In Millions Except Per Share Amounts) Earnings per share: Earnings per share Weighted average shares outstanding +