o pis possi Culinary Delight Steak Company uses a perpetual inventory system. The records of Culinary Delight Steak Company list the following selected accounts for the quarter ended April 30, 2018: B (Click the icon to view the accounts.) Read the requirements Requirement 1. Prepare a single-step income statement. (Abbreviation used: Eq Equipment.) Culinary Delight Steak Company i Data Table Income Statement Quarter Ended April 30, 2018 Revenues Interest Revenue 1,000 Accounts Payable 17,400 Net Sales Revenue Merchandise Inventory 45,400 Accounts Receivable 33,500 Interest Revenue 1.000 Notes Payable, long-term Accumulated Depreciation-Equipment 44,000 37.500 Total Revenues Salaries Payable 2,700 Common Stock 32.000 Expenser Net Sales Revenue Retained Eanings 305,000 3 450 Cost of Goods Sold Rent Expense (Selling) 146 400 21,500 Dividends 16.000 Delivery Expense Selling Salaries Expense (Administrative) 2.400 Cash 7400 Delivery Expense-Sellina Office Supplies 6,000 Cost of Goods Sold 146,400 Rent Expense-Selling 21,500 Unearned Revenue 13,400 Equipment 135,000 interest Expense Interest Expense 1.900 1 900 Interest Payable 1,000 IDepreciation Expense Ea-Administrative 1.350 Depreciation Expense-Equipment (Administrative) Utilities Expense (Administrative) Delivery Expense (Selling) Rent Expense (Administrative) 1,350 9,900 Utitities Expense-Administrative. 4 700 4.700 Salaries Expense (Selling) Utilities Expense (Selling) 6.500 Rent Expense-Administrative 9.900 3.000 11 500 Utilitios Expense-Selling 11,500 Delivery Expense-Selling 3.000 Print Done Total Expenses Choose from any list or enter any number in the input fields and then continue to the next question. 834 PM Tvpe here to search 6/13/2019 Click the icon to view the accounts.) Read the requirements. Culinary Delight Steak Company Income Statement Quarter Ended April 30, 2018 305,000 Net Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses: Selling Expenses: Rent Expense-Selling Utilities Expense-Selling Delivery Expense-Selling Delivery Expense Total Selling Expenses Selling Administrative Expenses: Depreciation Expense Eq-Administrative Utilities Expense-Administrative Rent Expense-Administrative Rent Expense-Administrative Total Administrative Expenses Total Operating Expenses Operating Income Choose from any list or enter any number in the input fields and then continue to the next question. Type here to search Culinary Delight Steak Company uses a perpetual inventory system. The records of Culinary Delight Steak Company list the following selected accounts for the quarter ended A Click the icon to view the accounts.) Read the requirements Administrative Expenses Depreciation Expense Eq-Administrative Utilities Expense-Administrative Rent Expense-Administrative Rent Expense-Administrative Total Administrative Expenses Total Operating Expenses Operat Income Other Income and (Expenses) Interest Revenue Interest Expense Total Other Income and (Expenses) Net Income (Loss) Requirement 3. M. Davis, manager of the company, strives to earn a gross profit percentage of at least 50 %, Did Culinary Delight achieve this goal? Show your calculations. Compute the gross profit percentage of Culinary Delight. (Round the gross profit percentage to the nearest tenth of a percent, X.X9%.) Gross Profit Net Sales Revenue Gross profit % % Did Culinary Delight achieve this goal? achieve this goal. Culinary Delight Choose from any list or enter any number in the input fields and then continue to the next question Type here to search