Problem 5-7A Income statements-perpetual LO5 CHECK FIGURE: 1 . Income from operations =$13,590 The following amounts appeared on Plymouth Electronics' adjusted trial balance as of December 31,2020 . Required 1. Prepare a 2020 classified multiple-step income statement for Plymouth Electronics, like Exhibit 5.13. 2. Prepare a single-step income statement, like Exhibit 5.15. Analysis Component: The gross profit ratio. for Plymouth Electronics' year ended December 31, 2019. was 32%. Calculate this ratio for the year ended December 31,2020 , and compare it to the prior year, commenting on whether the change was favourable or unfavourable