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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:
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: $158,000 15,710 226,000 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 39,200 18,300 6,630 37,400 Required: 1. Prepare a multistep-income statement. MYSTERY INCORPORATED Income Statement For the Year Ended December 31 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: $158,000 15,710 226,000 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 39,200 18,300 6,630 37,400 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 2b. Gross Profit Percentage
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