Return to questio 4 ! Part 1 of 3 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: points Cost of Goods Sold Income Tax Expense Merchandise Sales (gross revenue) for Cash Merchandise Sales (gross revenue) on Credit Office Expense 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 for external reporting purposes. Answer is complete but not entirely correct. MYSTERY INCORPORATED Income Statement 4 1. Prepare a multistep income statement for external reporting purposes. * Answer is complete but not entirely correct. Part 1 of 3 MYSTERY INCORPORATED Income Statement For the Year Ended December 31 1 points $ 28,890 % 175,000 140,140) Net Sales Cost of Goods Sold Gross Profit Operating Expenses Salaries and Wages Expense Office Expense $ 44,200 20,000 Total Operating Expenses Income from Operations >> 64,200 (210,310) Income Tax Expense >> Net Income 20,700 $ (231,010) Check my work 2 The following transactions were selected from the records of Evergreen Company: 2 points July 12 Sold merchandise to Wally Butler, who paid the $820 purchase with cash. The goods cost Evergreen Company $510. July 16 Sold merchandise to Claudio's Chair Company at a selling price of $4,820 on terms 3/10, n/30. The goods cost Evergreen Company $3,410. July 19 sold merchandise to Otto's Ottomans at a selling price of $2,910 on terns 3/10, n/30. The goods cost Evergreen Company $1,810. July 23 Received cash from Claudio's Chair Company for the amount due from July 16. July 31 Received cash from Otto's Ottomans for the amount due from July 19. eBook Hint Print Required: Compute the amount of Net Sales to be reported for the month ended July 31. (Round your answer to 2 decimal places.) References Not Sales U 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 Expense Sales Returns and Allowances Salaries and Wages Expense $ 175,000 20,700 260,000 46,000 20,000 7,650 44,200 2-a. What was the dollar 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