Required information PB6-5 Preparing a Multistep Income Statement and Computing the Gross Profit Percentage (LO 6-6] [The following information applies to the questions displayed below.] Emily's Greenhouse Corporation is a local greenhouse organized 10 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): Credit $685,000 EMILY'S GREENHOUSE CORPORATION Profit and Loss December 31 Debit Net Sales Cost of Goods Sold $371,000 Salaries and Wages Expense 101,000 Office Expenses 28,000 Travel Expenses 8,000 Income Tax Expense 53,100 Net Profit 123,900 Totals $685,000 $685,000 PB6-5 Part 2 .. Compute the gross profit percentage. (Round your answer to 1 decimal place.) Gross Profit Percentage %