E5-8 (Algo) Preparing a Classified (Multiple-Step) Income Statement and Computing the Gross Profit Percentage L05-3 The following data were taken from the records of Township Corporation at December 31 of the current year $90,000 38,888 Sales revenu Gross profit Selling (distribution) expense Administrative expense Pretax income Income tax rate Shares of stock outstanding 2,700 Required: 1. Prepare a complete classified multiple-step) income statement for the company showing both gross profit and income from operations) (Round "Earnings per share" to 2 decimal places.) TOWNSHIP CORPORATION Income Statement ALIEN WARE Required: 1. Prepare a complete classified (multiple-step income statement for the company showing both gross profit and income from operations). (Round "Earnings per share" to 2 decimal places.) TOWNSHIP CORPORATION Income Statement Operating expenses Total operating expenses Earnings per share 2. What is the gross profit percentage? (Enter your answer as a percentage rounded to 1 decimal place f.e., 0.123 should be entered as 12.3).) Gross prot percentage