Required information CP6-5 (Algo) Preparing a Multistep Income Statement and Computing the Gross Profit Percentage [LO 6- 6] [The following information applies to the questions displayed below.) Psymon Company, Incorporated, sells construction equipment. The annual fiscal period ends on December 31. The following adjusted trial balance was created from the general ledger accounts on December 31: Account Titles Cash Accounts Receivable Inventory Property and Equipment Accumulated Depreciation Accounts Payable Common Stock Retained Earnings, January 1 Sales Revenue Cost of Goods Sold: Salaries and Wages Expense Office Expense Interest Expense Income Tax Expense Totals Debits $ 46,220 Credits 19,600 71,000 54,000 $ 22,700 32,800 98,000 12,400) 183,800 107,600 18.600 19,600 2,400 10,680 $349,700 $349,700 CP6-5 (Algo) Part 2 2. Compute the gross profit percentage. (Round your answer to 1 decimal place.) Gross Profit Percentage i %