Required informationn [The following information applies to the questions displayed below.] Psymon Company, Inc., sells construction equipment. The annual fiscal period ends on December 31. The following adjusted trial balance was created from the general ledger accounts on December 31 Account Titles Cash Accounts Receivable Inventory Property and Equipment Accumulated Depreciation Accounts Payable Common Stock Debits $ 49,310 20,800 75,500 57,000 Credits $ 23,900 34,900 104,000 13,e00 196,400 etained Earnings, January 1 Sales Revenue Cost of Goods Sold Salaries and Wages Expense Office Expenses Interest Expense Income Tax Expense Totals 114,800 19,800 20,800 2,700 11,49e $372,200 $372,200 1. Prepare a multistep income statement that would be used for external reporting purposes. TIP: Some of the accounts listed will appear on the balance sheet rather than the income statement. PSYMON COMPANY, INC. Income Statement For the Year Ended December 31 Sales Revenue $ 196,400 196,400 2. Compute the gross profit percentage. (Round your answer to 1 decimal place.) Gross Profit Percentage 0