petual inventory systam. The records of Farm Fresh Beef Company tthe following selected accounts for the quarter ended April 30, 2018: (Ck the leon to view the aceounta Y Read the requirements Requirement 1. Prepare a single-step income statement Farm Freah Beef Company Data Table Income Statement Quarter Ended April 30, 2018 S Interest Revenue 900 Accounts Payable 16,800 Merchandise inventory 45.500 Accounts Receivable 33,800 Notes Payable, long-term 53.000 Accumuated Depreciation-Equipment 37,600 Salaries Payable 2,700 Foley, Capital 51.535 , Withdrawals Rent Expense (Sellina) 1 200 7ano Carh Salaries Expense (Administrative) 1.BCO Cost of Goods Sold 159,300 Office Supplies 5.70C Equipment 133,500 Ureamed Reenue 13.600 Interest Payable 1.500 Interest Expense 1.90C Rent Expense (Administrative) 9 600 Salaries Expense (Selling) Depreciation Expense-Equipment (Administrative) 1,335 6.400 UiRies Experse (Administrative) 10.500 4,700 Uities Expense (Selling) ACC Delivery Expense (Seling) Print Done t Income (Loes) Farm Fresh Beef Company uses a perpetual inventory system. The records of Farm Fresh Beef Company list the folowing selected accounts for the quarter ended April 30, 2018 (Click the icon to view the accounts.) Reed the requiroments. Farm Fresh Beef Company Income Statement Quarter Ended April 30, 2018 Data Table 900 S Gross Profis Interest Revenue S Accounts Payable 16,800 Merchandise Inventory 45.500 Accounts Receivable 33.800 53.000 Accumulatnd Deprecintion-Equipment Notes Payable, long-term 37,600 2.700 Faley, Capital Salaries Payable 51,535 Net Sales Revenue 295.000 Falev, Withdrawals 21,000 Rent Expense (Selling) 21,200 Cash 7,800 Salaries Expense (Administrative) 1,800 Cost of Goods Sold 159,300 Office Supples Equipment 133,500 5,700 nue ncerest Payal (Administrative) Depreciation Experse-Equipment (Administrative) 1,335 Salaries Expense (Selling) 6.400 Uslities Expense (Administrative) Uslities Expense (Selling) 4,700 10,500 Delivery Expense (Selling) 3,900 Print Done Net Income (Lcss) Requirement 3. C. Foley, manager of the company, strives to eam a gross proft percentage of at least 50 % . Did Farm Fresh achieve this goal? Show your calculations. Compute the gross profit percentage of Farm Fresh. Gross profit % Did Farm Fresh achieve this goal? achieve this goal Fam Fresh Choose from any list or enter any number in the input fields and then continue to the next