E6-22 Analyzing Gross Profit Percentage on the Basis of an Income Statement (LO 6-5] The following information applies to the questions displayed below.) Wolverine World Wide Inc. prides itself as being the world's leading marketer of U.S. branded non-athletic footwear." The following data (in millions) were taken from its annual report for its 2012 fiscal year $1.976 48 26 Net Sales Income Tax Expense Dividends Salaries and Wages Expense Cost of Goods Sold Interest Expense 622 1232 28 References Section Break E6-22 Analyzing Gross Profit Percentage on the Basis of an Income Statement |LO 6-5) 5. value: 1.00 points Required information E6-22 Part 1 Required: 1. Prepare a multistep income statement. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) WOLVERINE WORLD WIDE INC. Income Statement (in millions) Hints References eBook & Resources Hint #1 Check my work 6. value: 1.00 points Required information E6-22 Part 2 How much was the gross profit? (Enter your answer in millions.) Gross Profit million 2- What was the gross profit percentage? (Round your answer to 1 b. decimal place.) Percentage Gross Profit Percentage Hints References eBook & Resources Hint #1 Check my work 7. value: 1.00 points Required information E6-22 Part 3 3. Did the gross profit percentage in the current year improve or decline relative to the 37.9% gross profit percentage in the prior year? Decline Improve Hints References eBook & Resources Hint #1 Check my work