Debits Credits $37,500 28,600 43,300 2,000 69,000 Account Titles Cash Accounts Receivable Inventory Prepaid Rent Equipment Accumulated Depreciation Accounts Payable 12 Unearned Fees 3 Long-term Notes Payable 4 Noodles, Capital 15 Sales Revenue 16 Sales Returns and Allowances 17 Sales Discounts 18 Cost of Goods Sold 19 Salaries and Wages Expense 20 Depreciation Expense 21 Rent Expense 22 Interest Expense $20,700 8,800 20,000 75,000 31,800 175,500 4,700 6,000 67,700 25,900 13,800 24,000 1,600 DACA CISARTS B 00 D que 21 22 23 24 25 Rent Expense Interest Expense Loss on Sale of Equipment Totals 24,000 1,600 7,700 $331,800 $331,800 31 NOODLES UNLIMITED 32 Income Statement B3 For the Year Ended December 31 34 B5 Less: 36 37 38 Net Sales 39 40 Gross Profit 41 Expenses: 42 43 44 45 Income from Operations 46 Other Expenses and Losses 47 48 49 52 2. Compute the gross profit percentage. 63 54 Gross Profit Percentage 55