Prompts 3.1, 3.2, and 3.3 utilize the following information: The following information is available for CMC Construction Co.: Cost of goods sold 720,000 Sales discounts 20,000 Sales revenue $1,116,000 Interest revenue 54,000 Operating expenses 264,000 Sales returns 46,000 Interest expense 34,000 Prompt #3.1 Use the above information to prepare a multiple-step income statement for the year ended December 31, 2023.

Prompt #3.2 Compute Net Income as a Percentage of Gross Sales

Prompt #3.3 Compute the Gross Profit Margin.