Required information PA6-5 (Algo) Preparing a Multistep Income Statement and Computing the Gross Profit Percentage (LO E 6] [The following information applies to the questions displayed below.] Big Tommy Corporation is a local grocery store organized seven years ago as a corporation. The bookkeeper prepared the following statement at year-end (assume that all amounts are correct, but note the incorrect format): BIG TOMMY CORPORATION Profit and Loss December 31 Debit Credit $389,900 $271,000 56,000 Net Sales Cost of Goods Sold Salaries and Wages Expense Office Expense Travel Expenses Income Tax Expense Net Profit Totals 14,500 1,000 14,220 33,180 $389,900 $389,900