mework M Question 8 - Chapter 5: Homework - Co Saved The following data were taken from the records of Township Corporation at December 31 of the current year, Sales revenue Gross profit Selling (distribution) expense Administrative expense Pretax income Income tax rate Shares of stock outstanding $91,000 30,000 6,500 7 13,200 35% 3,000 Required: 1. Prepare a complete classified (multiple-step) income statement for the company (showing both gross profit and income from operations). (Round "Earnings per share" to 2 decimal places.) TOWNSHIP CORPORATION Income Statement Operating expenses: Total operating expenses 1 Earnings per share 2. What is the gross profit percentage? (Enter your answer as a percentage rounded to 1 decimal place (ie, 0.123 should be entered as 12.3).) a Gross profit percentage %