FINANCIAL STATEMENTS 1 Marks) Presented below is the adjusted trial balance of area's Pet Supplies as at its fiscal year end, une accounts are the normal balance debitor credit). Karen's uses the perpetual inventory des Portal Accounts payable.... Accounts receivable Acum depreciation computer Accum depreciation, equipment $ 34,850 27.300 1.500 32,000 9,500 4,500 195.000 $ 50,770 24,000 14,000 55,000 47.000 1.500 14 000 50.000 6.200 Berts K Milani capital K Milan, drawings Long-term not receivable Merchandise inventory Note payable due 2022 Prepaid rent Rent expense Salaries expense Salaries payable Sales discounts Sales returns and allowane Sales reven Supplies Spis expense D D Computers Cost of coeds sold.... Depreciation expense Equipment Insurance expense Interest expense Interest payable Interest revenue ate arlie 0.000 1.400 2.350 1.000 320,000 900 1.750 280 instructions a) b) Prepare a multiple step income statement (12 marks) Calculate Karen's gross profit margin. Karen's gross profit margin for 2020 was 45% Comment on the change in gross profit margin from the man