Noodles Unlimited, Inc. sells swimming pool toys. The following adjusted trial balance is for the year ended December 31. \begin{tabular}{l|r|r|} \hline Account Titles & Debits & \multicolumn{1}{c|}{ Credits } \\ \hline Cash & $37,500 & \\ \hline Accounts Receivable & 28,600 & \\ \hline Inventory & 43,300 & \\ \hline Prepaid Rent & 2,000 & \\ \hline Equipment & & \\ \hline Accumulated Depreciation & & $20,700 \\ \hline Accounts Payable & & 8,800 \\ \hline Unearned Fees & & 20,000 \\ \hline Long-term Notes Payable & & 75,000 \\ \hline Common Stock & & 31,800 \\ \hline Sales Revenue & 4,700 & 175,500 \\ \hline Sales Returns and Allowances & 6,000 & \\ \hline Sales Discounts & 67,700 & \\ \hline Cost of Goods Sold & 25,900 & \\ \hline Salaries and Wages Expense & 13,800 & \\ \hline Depreciation Expense & 24,000 & \\ \hline Rent Expense & 1,600 & \\ \hline Interest Expense & 7,700 & \\ \hline Loss on Sale of Equipment & $331,800 & $3331,800 \\ \hline Totals & & \\ \hline & & \\ \hline Required: & & \\ \hline I. Preparea mult-step income & & \\ \hline & & \\ \hline \end{tabular} 1. Prepare a multi-step income statement that would be used for internal reporting purposes. (Use cells A5 to C24 from the given information to complete this question. All formulas must return positive values.) Required: 1. Prepare a multi-step income statement that would be used for internal reporting purposes. (Use cells A5 to C24 from the given information to complete this question. All formulas must return positive values.) NOODLES UNLIMITED Income Statement For the Year Ended December 31 Less: Net Sales Gross Profit Expenses: \begin{tabular}{|l|l|} \hline & \\ \hline Income from Operations & \\ \hline Other Expenses and Losses & \\ \hline \end{tabular} 2. Compute the gross profit percentage. Gross Profit Percentage