Hal's Shed, Inc. Trial Balance June 30, 2018 Account Credit Debit 5,800 30,100 23,600 2,000 2,800 68,000 $ Cash Accounts receivable Inventory Estimated inventory returns Supplies Equipment Accumulated depreciation, equipment Accounts payable Estimated refunds liability Unearned sales revenue Note payable, long-term Common stock Retained earnings Dividends 14,500 6,800 1,700 2,800 30,000 15,000 65,750 56,000 250,000 Sales revenue Cost of goods sold Selling expense 120,000 55,400 Account Debit Credit 5,800 30,100 23,600 2,000 2,800 68,000 $ Cash Accounts receivable Inventory Estimated inventory returns Supplies Equipment Accumulated depreciation, equipment Accounts payable Estimated refunds liability Unearned sales revenue Note payable, long-term Common stock Retained earnings Dividends 14,500 6,800 1,700 2,800 30,000 15,000 65,750 56,000 250,000 Sales revenue Cost of goods sold Selling expense General expense 120,000 55,400 22,600 250 386,550 $ Interest expense 386,550 Total The adjusted trial balance for Hal's Shed, Inc., as of June 30, 2018, is presented next: the icon to view the adjusted trial balance.) Read the requirements. Requirement 1. Prepare the multistep income statement for June for Halls Shed, Inc. Hal's Shed, Inc. Income Statement For the Month Ended June 30, 2018 Net income (loss) Requirement 2. Calculate the gross profit percentage for June for Hal's Shed, Inc. Start by determining the formula, then complete the calculation to determine gross profit percentage for the month. (Enter your answer as a percent rounded to the nearest tenth of a percent, X.X%.) Gross profit percentage J = L % Income Statement For the Month Ended June 30, 2018 Net income (loss) Requirement 2. Calculate the gross profit percentage for June for Hal's Shed, Inc. Start by determining the formula, then complete the calculation to determine gross profit percentage for the month. (Enter your answer as a percent rounded to the nearest tenth of a percent, X.X%.) Gross profit percentage % Requirement 3. What does Halls Shed, Inc.'s gross profit percentage mean? (Enter the amount to one decimal place, X.X.) generates D cents of Hal's Shed, Inc.'s gross margin percentage means that each dollar of that is used to cover and to generate