! Required information [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 $460,100 Net Sales Cost of Goods Sold Salaries and Wages Expense office Expenses Travel Expenses Income Tax Expense Net Profit $303,000 64,000 20,500 1,000 21,480 50,120 $460,100 $460,100 Totals 2. Compute the gross profit percentage. (Round your answer to 1 decimal place.) % Gross Profit Percentage Next> of 11 11