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 $ 165,000 17,600 240,000 42,000 19,000 7,000 40,200 E6-17 Part 3 3. Did the gross profit percentage in the current year improve, or decline, relative to the 38.0% gross profit percentage in the prior year? Improve O Decline 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 $ 165,000 17,600 240,000 42,000 19,000 7,000 40,200 E6-17 Part 1 Required: 1. Prepare a multistep income statement. MYSTERY INCORPORATED Income Statement 0 0 0 $ 0 ! 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 $165,000 17,600 240,000 42,000 19,000 7,000 40,200 E6-17 Part 2 2-a. What was the amount of gross profit? 2-b. What was the gross profit percentage? (Round your percentage to 1 decimal place.) 2-a. Gross Profit Gross Profit Percentage 2-b. %