. Items from the accounts of Mater Distributors at July 31, 2017, follow. Insted in alphabetical order. Aster Datibutors uses the perpetual inventory system. For simplichy, the operating expenses are summarized in the General Expenses and Selling Expenses accounts Click the icon to view the accounts.) Required 1. Prepare Aster Distributors' multi-step income statement for the year ended July 31, 2017 2. Corry Aster, owner of the company strives to eat a gross margin of at least 50 percent and an income of 20 percent (Net income percentage - Net Income Net sales revenu Did Aster Distributors achieve these goals? Show your calculations Requirement 1. Prepare Aster Distributors mul step income statement for the year ended July 31, 2017 Begin with the heading and then complete the body of the statement one section at a time, as presented Revenue Less Nettvenue 2 Net sales revenue Operating expenses Operating income (loss) Other revenue and expense Net Income loss Show your calculations es revenue Un Arbors have se goals? Net Income (s) Requirement 2. Cory leer of the company stres to earn a grous margin of that percent and are income of 20 percent (Net income percentage Not income Not a revotos) Asturbators achieve those goals Show your icons Start by calling the gross margin percentage Use the following formato complete the calculation (Round your answer to one decimal place. Use a minus sign or parentheses to indicate a negative answer Gross margin percentage Now calculate the income percentage Use the following formulato complete the calculation (Round your wer to one decimal place. Use a minus sign of parentheses to indicate a negative answer Net income percentage Aster Distributors achieve that of its goals 1,2017, follow, listed in alphabetical order. Aster Distributors uses the perpetual inventory system. For simplicity, the operating - X More Info tatemer sales rev: cam a g $ 4,600 640 175,000 116,000 7,800 36,000 ome / Net Accounts Payable Accounts Receivable Accumulated Amortization -Equipment C. Aster, Capital C. Aster, Withdrawals Cash Cost of Goods Sold Equipment General Expenses Interest Expense strives $ 71,000 Interest Payable. 123,000|| Interest Revenue Inventory: July 31, 2017 100,000 Note Payable, Long-Term 167,800|| Salaries Payable 76.000 Sales Discounts 21,000 Sales Returns and 1,180,000 Allowances 188,940 Sales Revenue 208,000 Selling Expenses 9,400 Supplies Unearned Sales Revenue se the fol parenthe 51.000 1991.500 397.000 following 49,000 heses to 25.000 Print Done als e input fields and then continue to the next question i More Info - X atemer am a g sales S 4,600 640 175,000 116.000 7,800 trives Accounts Payable Accounts Receivable Accumulated Amortization -Equipment C. Aster, Capital C Aster Withdrawals Cash Cost of Goods Sold Equipment General Expenses Interest Expense Jome/N $ 71,000 Interest Payable 123,000 Interest Revenue Inventory: July 31, 2017 100.000 Note Payable. Long-Term 167,800 Salaries Payable 76.000 Sales Discounts 21,000|| Sales Returns and 1.180.000 Allowances 188 940 Sales Revenue 208.000 Selling Expenses 9,400 Supplies Unearned Sales Revenue 36.000 the fol parent 51,000 1.991.500 367.000 49,000 25.000 lowing w theses Print Done but fields and then continue to the next question Items from the accounts of Aster Distributors at July 31, 2017 fotowisted in alphabetical onde Asher Distributors the perpetual entory system for the operating presented in the General Expenses and Selling Expenses accounts Click the icon to view the accounts Required 1. Prepare Aster Distributors mulle income statement for the year andedly 31, 2017 2. Corry Aster, owner of the company strives to earn a gross margin of at least 50 percent and a net income of 20 percent. (Not Income percentage Not income a sales revende Distributors achieve these goals? Show your calculations Requirement 1. Prepare Aster Distributors' multi-step income statement for the year ended Adly 31, 2017 Begin with the heading and then complete the body of the statement one section at a time, as presented Revenue Less Net sales revenue Show your calculations. Net sales revenue Operating expenses Operating income (loss) Other revenue and expense Net income (loss) Requirement 2. Cory Aster, owner of the company strives to earn a gross margin of at least 50 percent and a not income of 20 percent (Net income percentage of income Net sales revenue) Did Aster Distributors achieve these goals? Show your calculations Start by calculating the gross margin percentage Use the following for to complete the calculation found your answer to one decimal place. Use a minus sign or parentheses to indicates gative answer Grous margin percentage Now calculate the net income percentage. Use the following formulato complete the calculation (Round your answer to one decimal place. Use a minus signor parentheses to indicate a negative answer.) Net Income percentage Aster Distributors achieve either of its goals