P5-3 (Algo) Preparing a Classified (Multiple-Step) Income Statement and Interpreting the Gross Profit Percentage Lo5-3 The Max incorporated, is a leading fashion retailer that offers customers an extensive selection of high-quatity fashion brands focused on apparel, shoes, cosmetics, and accessories for women men, young sdults and children. The items reported on Ha income statement for an earler year (ended Febriary 7 are presented here (dollars in millions) in simplified form in alphabetical order. Required: a. Prepare a classified (multiplestep) consolidated income statement (showing gross profit, operating income, and income before income taxes). b. What is the gross profit percentoge? Complete this question by entering your answers in the tabs below. Prepare a classified (multiple-step) consolidated income statement (showing gross profit, operating income, and income before income taxes), Note: Enter your answers in millions not in dollars (4.e., 10,000,000 should be entered as 10). Round "Earnings per share" to 2 decimal places. P5-3 (Algo) Preparing a Classified (Multiple-Step) Income Statement and Interpreting the Gross Profit Percentage LO5-3 The Max, Incorporated, is a leading fashion retaller that offers customers an extensive selection of high-quality fashion brands focused on apparel, shoes, cosmetics, and accessories for women, men, young adults and children. The items reported on its income statement for an earlier year (ended February 1) are presentod here (dollars in millions) in simplified form in alphabetical order. Required: a. Prepare a classified (multiple-step) consolidated income statement (showing gross profit, operating income, and income before income taxes). b. What is the gross proft percentage? Complete this question by entering your answers in the tabs below. What is the gross profit percentage? Note: Enter your answer as a percentage rounded to 1 decimal place (1.e., 0.123 should be entered as 12.3 ). P5-3 (Algo) Preparing a Classified (Multiple-Step) Income Statement and Interpreting the Gross Profit Percentage Lo5-3 The Max incorporated, is a leading fashion retailer that offers customers an extensive selection of high-quatity fashion brands focused on apparel, shoes, cosmetics, and accessories for women men, young sdults and children. The items reported on Ha income statement for an earler year (ended Febriary 7 are presented here (dollars in millions) in simplified form in alphabetical order. Required: a. Prepare a classified (multiplestep) consolidated income statement (showing gross profit, operating income, and income before income taxes). b. What is the gross profit percentoge? Complete this question by entering your answers in the tabs below. Prepare a classified (multiple-step) consolidated income statement (showing gross profit, operating income, and income before income taxes), Note: Enter your answers in millions not in dollars (4.e., 10,000,000 should be entered as 10). Round "Earnings per share" to 2 decimal places. P5-3 (Algo) Preparing a Classified (Multiple-Step) Income Statement and Interpreting the Gross Profit Percentage LO5-3 The Max, Incorporated, is a leading fashion retaller that offers customers an extensive selection of high-quality fashion brands focused on apparel, shoes, cosmetics, and accessories for women, men, young adults and children. The items reported on its income statement for an earlier year (ended February 1) are presentod here (dollars in millions) in simplified form in alphabetical order. Required: a. Prepare a classified (multiple-step) consolidated income statement (showing gross profit, operating income, and income before income taxes). b. What is the gross proft percentage? Complete this question by entering your answers in the tabs below. What is the gross profit percentage? Note: Enter your answer as a percentage rounded to 1 decimal place (1.e., 0.123 should be entered as 12.3 )