For simplicity, all operating expenses are summarized in the accounts Selling Expenses and General Expenses. Selected accounts of Edwards Sheds, at July 31, 2013 are listed in alphabetical order below. Accounts Payable Accounts Receivable Accululated amortization - store equipment B. Edwards, capital B. Edwards, withdrawals Cash Cost of Goods Sold General expenses Interest expense Interest payable Interest revenue 238,688 Inventory: July 31, 2013 58,500 Notes payable, long-term 30,750 Salaries payable 125,800 Sales discounts 21,213 Sales returns & allowances 23,060 Sales revenue 676,690 Selling expenses 142,125 Store equipment 2,250 Supplies 5,625 Unearned sales revenue 575 351,180 300,000 11,450 15,560 33,575 996,750 158,625 236,250 8,050 17,440 (a) Prepare the multi-step income statement for the year ended July 31, 2013. Calculate the Gross Margin Percentage. (b) Prepare the classified balance sheet in report format as at July 31, 2013. Calculate the Current Ratio.