The account balances and single-step income statement for Antique Furniture, Inc., for the year ended August 31, 2018, are presented below: (Click the icon to view the single-step income statement.) (Click the icon to view the account balances listing.) Read the requirements. X Data Table Antique Furniture, Inc. Income Statement For the Year Ended August 31, 2018 Cash $ 19,600 135,000 Cost of goods sald. Accumulated depreciation, 32,000 Equipment.. Accounts payable . 7,900 equipment 7,600 Common stack. 36,000 Unearned revenues. 3,100 Long-term notes payable. ... 20,000 Sales revenue 255,000 20,600 Accounts receivable. 4,500 General expenses. Salaries payable 3,100 Accumulated depreciation, 2,800 building... Supplies. . Building Estimated refund liability. 20,500 20,500 115,000 Mortgage payable (long-term)... 2,500 Dividends.. 46,000 Net income (loss) Prepaid rent.. 3,500 Estimated inventory returns. 3,500 Interest expense 1,000 Selling expenses 27,800 Requirement 2. Calculate the gross profit percentage. Retained earnings. 38,200 Inventory 3,100 Start by determining the formula, then complete the calculation to determine gross profit percentage for the year. (Enter your an Gross profit percentage Print Done % Requirement 3. The gross profit percentage for 2017 was 44.0%. Did the gross profit percentage improve or deteriorate during 2018? As shown by the in the ratio, the gross profit percentage during 2018. Choose from any list or enter any number in the input fields and then continue to the next