Required information E6-17 Analyzing Gross Profit Percentage on the Basis of a Multistep Income Statement [LO 6-6) The following information applies to the questions displayed below.) The following data were provided by Mystery Incorporated for the year ended December 31: Cost of Goods Sold Income Tax Expense Merchandise Sales (gross revenue) for Cash Merchandise Sales (gross revenue) on Credit Office Expenses Sales Returns and Allowances Salaries and Wages Expense $169,000 18,940 248, eee 43,600 19,40e 7,290 41, 8ee "vipi wuULLEY. MYSTERY INCORPORATED Income Statement At December 31 Net Sales Cost of Goods Sold Gross Profit Operating Expenses Office Expenses $ 19,400 Salaries and Wages Expense 41,800 291,600 X (169,000) 122,600 Total Operating Expenses Income from Operations 61,200 61,400 (18,940)