Parneet Inc. prides itself on being the world's best merchandiser of shoes. The following information was taken from its financial statements at fiscal January 31. Sales- $12000 Income Tax Expense - $300 Cash Dividends Paid - $5000 Selling and Administrative Expense - $3000 Cost of Products Sold - $5000 Interest Expense - $100 Other Revenues - $1000 Required: (NOTE THERE ARE 2 PARTS) PART 1- Based on the data above, prepare a multi-step income statement. (8 marks) PART 2 What was the gross profit? What was the gross profit percentage? (2 marks)