please explain each step!!

Required information [The following information applies to the questions displayed below] Psymon Company, Incorporated, sells construction equipment. The annual fiscal period ends on December 31 . The following adjusted trial balance was created from the general ledger accounts on December 31 : 1. Prepare a multistep income statement that would be used for external reporting purposes. TIP: Some of the accounts listed will appear on the balance sheet rather than the income statement. 2. Compute the gross profit percentage. (Round your answer to 1 decimal place.)