TB Problem 6-197 (Algo) The following is a listing of the income statement... The following is a listing of all of the income statement accounts for Mulberry Street Sportswear as they appear on the adjusted trial balance as of December 31. $ 11,300 87,400 4,400 900 Advertising Expense Cost of Goods Sold Delivery Expense Insurance Expense Income Tax Expense Rent Expense Interest Expense Sales Revenue Sales Discounts Sales Returns & Allowances 6,760 10,500 1,500 160, 100 9,900 17,300 Required: a. Prepare a multistep Income statement. Include all operating expenses in one line item called "Selling, General and Administrative Expenses and all non-operating revenues(expenses) in one line item called "Other Revenue (Expenses), net" b. Compute the gross profit percentage, Complete this question by entering your answers in the tabs below. Required A Required Prepare a multistep income statement. Include all operating expenses in one line item called "Selling, General and Administrative Expenses and all non-operating revenues(expenses) in one line item called "other Revenue (Expenses), net MULBERRY STREET SPORTSWEAR Income Statement Complete this question by entering your answers in the tabs below. Required A Required B Prepare a multistep income statement. Include all operating expenses in one line item called "Selling, General and Administrative Expenses" and all non-operating revenues(expenses) in one line item called "Other Revenue (Expenses), net". 5 MULBERRY STREET SPORTSWEAR Income Statement Required 3 > Advertising Expense $ 11,300 Cost of Goods Sold 87,400 Delivery Expense 4,400 Insurance Expense 900 Income Tax Expense 6,760 Rent Expense 10,500 Interest Expense 1,500 Sales Revenue 160,100 Sales Discounts 9,900 Sales Returns & Allowances 17,300 Required: a. Prepare a multistep income statement. Include all operating expenses in one line item called "Selling, General and Administrative Expenses" and all non-operating revenues(expenses) in one line item called "Other Revenue (Expenses), net". b. Compute the gross profit percentage. Complete this question by entering your answers in the tabs below. Required A Required B Compute the gross profit percentage. (Round your answer to 1 decimal place (.e., 0.1234 should be entered as 12.3).) % Gross Profit