The adjusted trial balance for Checker Flag Auto, Inc., as of January 31, 2016, is presented next EEB (CICk the icon to view the adjusted trial balance.) Requirements 1. Prepare the multi-step income statement for January for Checker Flag Auto, Inc. 2. Calculate the gross profit percentage for January for Checker Flag Auto, Inc. 3. What does Checker Flag Auto, Inc.'s gross profit percentage mean? Credit Account Cash Accounts receivable Inventory Supplies Equipment Accumulated depreciation, equipment Accounts payable Unearned sales revenue Note payable, long-term Common stock Retained earnings Dividends Sales revenue Sales returns and allowances Sales discounts Cost of goods sold Selling expense General expense Interest expense Total Debit $10,100 3,400 46,300 2,600 81,000 Requirement 1. Prepare the multi-step income statement for January for Checker Flag Auto, Inc Checker Flag Auto, Inc. Income Statement For the Month Ended January 31, 2016 S 12,900 5,100 2,600 41,000 30,000 82.750 Less 45,000 197,500 8,800 3,500 102,700 43,600 24,300 550 $ 371,850S 371,850 Net income (loss)