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E6-17 Analyzing Gross Profit Percentage on the Basis of a Multistep Income Statement (LO 6-6) [The following information applies to the questions displayed below.) The
E6-17 Analyzing Gross Profit Percentage on the Basis of a Multistep Income Statement (LO 6-6) [The following information applies to the questions displayed below.) The following data were provided by Mystery Incorporated for the year ended December 31: Cost of Goods Sold Income Tax Expense Merchandise Sales (gross revenue) for Cash Merchandise Sales (gross revenue) on Credit office Expenses Sales Returns and Allowances Salaries and Wages Expense $156, 000 15, 120 222,000 38, 400 18,100 6,510 36,600 Required: 1. Prepare a multistep income statement. E6-17 Part 2 MYSTERY INCORPORATED Income Statement For the Year Ended December 31 2-a. What was the amount of gross profit? 2-b. What was the gross profit percentage? (Round your percentage to 1 decimal place.) 2-a. Gross Profit 2-b. Gross Profit Percentage % $ 0
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