Required information (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 $175,000 20,700 260,000 46,000 20,000 7,650 44,200 Required: 1. Prepare a multistep income statement. MYSTERY INCORPORATED Income Statement 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 2-b. Gross Profit Percentage % c. Did the gross profit percentage in the current year improve, or decline, relative to the 39% gross profit percentage in the prior year? Improve Decline