The account balances and single-step income statement for Everything Wholesale, 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. Requirement 1. Prepare Everything Wholesale, Inc.'s multistep income statement. Everything Wholesale, Inc. Income Statement For the Year Ended August 31, 2018 Net income (loss) Requirements 1. Prepare Everything Wholesale, Inc.'s multistep income statement. 2. Calculate the gross profit percentage. 3. The gross profit percentage for 2017 was 43.9 percent. Did the gross profit percentage improve or deteriorate during 2018? Reference Data table Everything Wholesale, Inc. Income Statement For the Year Ended August 31, 2018 Cash.. Equipment. Accounts payable. Common stock. 5,800 Cost of goods sold. 123,500 equipment 9,800 Accumulated depreciation, 7,900 8,700 Revenues: Sales revenue 234,500 Long-term notes payable. 36,000 Unearned revenues 30,000 Sales revenue. 3,100 234,500 Expenses: General expenses 25,600 Accounts receivable 7,200 Cost of goods sold $ Selling expenses General expenses 123,500 38,000 Salaries payable.. Supplies building 3,300 Accumulated depreciation, 2,100 41,500 25,600 Building... 130,000 Mortgage payable (long-term) 20,500 600 Estimated refund liability 4,300 Dividends 58,000 Interest expense Total expenses $ 187,700 46,800 Prepaid rent 2,600 Estimated inventory returns 3,100 Interest expense. Net income (loss) Retained earnings 600 Selling expenses. 20,000 Inventory. 38,000 3,500 Print Done Print Done