Question 2 Not complete Marked out of 1.00 Flag question 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 Required Prepare a multi-step income statement for 2013. Note: Do not use negative signs with your answers. Resume Prepare a multi-step income statement for 2013 Note: Do not use negative signs with your answers. LONGO & COMPANY Income statement 2013 Gross Profit on Sales Operating Income Income before Income Taxes Net Income $ 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- 96 and thus, the company's profitability is Check Previous Save Answers