Exercise 5-12 Preparing an income statement-perpetual LOS The following account information, in alphabetical order, was taken from the work sheet of Compu-Soft for the month ended November 30, 2020 Adjusted Trial Balance Account Debit Credit 201 Accounts payable 750 106 Accounts receivable $ 1,200 166 Accumulated depreciation, store equipment 4,600 101 Cash 2,100 502 Cost of goods sold 14,800 612 Depreciation expense, store equipment 120 301 Peter Delta, capital 1,935 302 Peter Delta, withdrawals 4,600 406 Rent revenue 2,500 413 Sales 29,400 415 Sales discounts 45 414 Sales returns and allowances 720 165 Store equipment 7,200 690 Utilities expense 2,100 623 Wages expense 6,300 Totals $39,185 $39,185 Required: Prepare a multiple-step income statement for the month ended November 30, 2020. Prepare a multiple-step income statement for the month ended November 30, 2020. Answer is not complete. COMPU-SOFT Income Statement For Month Ended November 30, 2020 Net sales Sales returns and allowances Sales discounts Gross profit Operating expenses Depreciation expense, store equipment $ 120 Utilities expense 2,100 Wages expense 6,300 $ 29,400 X 790 45 X 13,765 X 8,520 5,245 Total operating expenses Income from operations Other revenues and expenses: Rent revenue ho 2,500 $ 7,745 Analysis component: Assume that for the month ended October 31, 2020, net sales were $32,000, cost of goods sold was $19.200, and income from operations was $8,000. Calculate the company's gross profit ratios for October and November. (Do not round Intermediate calculations. Round your final answers to 2 decimal places.) Gross Profit 9 October November