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ses a perpetual inventory system. The records oflist the following selected accounts for the quarter ended April 30, 2018 EEB (Click the icon to view the accounts) Read the requirements Requirement 1. Prepare a single-step income statement. Data Table Quarter Ended April 30, 2018 Revenues Interest Revenue S 800 Accounts Payable S 17.100 Net Sales Revenue 290000 Merchandise Inventory 45,100 Accounts Receivable 38.400 800 Interest Revenue 44,000 Accumulated Depreciation Equipment Notes Payable, long-term 36.600 Total Revenues 298000 Salaries Payable 2,700 Firth, Capital 35,915 Expenses Net Sales Revenue 290,000 Firth, Withdrawals 17,500 Cost of Goods Sold 133.400 Rent Expense (Selling) 21,900 Cash 7.700 21,900 Salaries Expense (Administrative) 2,200 Cost of Goods Sold 133.400 Interest Expense 2,000 Office Supplies 6,100 Equipment 131,500 Depreciation Expense Eq inistrative 1,315 Unearned Revenue 13.200 Interest Payable 1.100 Utilities Expense-Administrative ,800 Interest Expense 2,000 Rent Expense (Administrative) 9,000 Rent Expense Administrative 9,000 Depreciation Expense Equipment (Administrative) 1,315 Salaries Expense (Selling) 5,500 10,900 Utilities Expense (Administrative) 4,800 Utilities Expense (Selling) 10.900 Delivery E 3.300 Delivery Expense (Selling) 3.300 Salaries Ex 2,200 strative 5,500 Salaries Expense Selling Print Done 194315 Total Ex 103,685 Net Income (Loss) Requirement 2. Prepare a multi-step income statement. Begin by completing the statement through the gross profit, then calculate operating income in the second step and net income in the final step. Income Statement Quarter Ended April 30, 2018 Gross Profit Operating Expenses Selling Expenses 21,900 Rent Expense-Selling Utilities Expense-Selling 10,900 Delivery Expense-Selling 3,300 5,500 Salaries Expense-Selling 41,600 Total Selling Expenses Administrative Expenses Utilities Expense-Administrative 4,800 9,000 Rent ExpenseAdministrative Depreciation Expense Equipment-Administrative 1,315 2,200 Salaries Expense-Administrative 17,315 Total Administrative Expenses Total Operating Expenses Operating Income Other Income and (Expenses) Requirement 3 N. Firth, manager of the company, strives to earn a gross profit percentage of at least 50% Did ieve this goal? Show your cal Compute the gross profit percentage ofc ut. Gross Profit Net Sales Revenue Gross profit % Did Quality Cut achieve this goal? Cutachieve this goal