Interest Revenue	$300	Accounts Payable	$17,900
Merchandise Inventory	45,300	Accounts Receivable	38,800
Notes Payable, long-term	42,000	Accumulated DepreciationEquipment	36,600
Salaries Payable	2,500	Fowler, Capital	65,215
Net Sales Revenue	294,000	Fowler, Withdrawals	26,000
Rent Expense (Selling)	21,600	Cash	7,900
Salaries Expense (Administrative)	1,700	Cost of Goods Sold	155,820
Office Supplies	6,000	Equipment	129,500
Unearned Revenue	13,900	Interest Payable	700
Interest Expense	2,200	Rent Expense (Administrative)	9,300
Depreciation ExpenseEquipment (Administrative)	1,295	Salaries Expense (Selling)	5,800
Utilities Expense (Administrative)	3,900	Utilities Expense (Selling)	10,800
Delivery Expense (Selling)	3,500

* Requirements -X 1. Prepare a single-step income statement. 2. Prepare a multi-step income statement. 3. M. Fowler, owner of the company, strives to earn a gross profit percentage of at least 50%. Did A Cut Above achieve this goal? Show your calculations. Print Done A Cut Above Beef Company uses a perpetual inventory system. The records of A Cut Above Beef Company list the following selected accounts for the quarter ended April 30, 2024 E (Click the icon to view the accounts.) Read the requirements Requirement 1. Prepare a single-step income statement Requirement 1. Prepare a single-step income statement A Cut Above Beef Company Income Statement Quarter Ended April 30, 2024 V Net Income (Loss) Choose from any list or enter any number in the input fields and then continue to the next question. Requirement 2. Prepare a multi-step income statement. Begin by completing the statement through the gross profit, then calculate operating income in the second step and net incom A Cut Above Beef Company Income Statement Quarter Ended April 30, 2024 Gross Profit Net Income (Loss) Net Income (Loss) Requirement 2. Prepare a multi-step income statement. Begin by completing the statement through the gross profit, then calculate operating income in the second step and net income in the final step. (Enter Selling Expenses before Administrative Expenses Use a minus sign or parentheses to show other expenses.) A Cut Above Beef Company Income Statement Quarter Ended April 30, 2024 Gross Profit Requirement 3. M. Fowler, owner of the company, strives to earn a gross profit percentage of at least 50% Did A Cut Above achieve this goal? Show your calculations Compute the gross profil percentage of A Cut Above Gross profit % % Did A Cut Above achieve this goal? A Cut Above y achieve this goal