Profitability and the Income Statement Presented below is income statement data for Longo & Company as of year-end 2013: Income Tax Expense $10,400 Cost of Goods Sold 17,300 Other Expenses 1,200 Net Revenue 63,500 Operating Expenses 31,000 $ 0 Required Prepare a multi-step income statement for 2013. Note: Do not use negative signs with your answers. LONGO & COMPANY Income Statement 2013 Sales Revenue Cost of Goods Sold Gross Profit on Sales Operating Expenses Operating Income 0 Other Expenses Income before Income Taxes Income Tax Expense Net Income 0 0 e 0 . 0 0 0 Calculate the company's return on sales ratio. Round answer to one decimal place. If Longo's return on sales was 20% in 2012, is the company's profitability improving or declining? Return of sales for 2013- the company's profitability is improving % and thus