The adjusted trial balance for Fire 'N Ice, Inc., as of June 30, 2018, is presented next: (Click the icon to view the adjusted trial balance.) Read the requirements. C. Requirement 1. Prepare the multistep income statement for June for Fire 'N Ice, Inc. Fire 'N Ice, Inc. Income Statement For the Month Ended June 30, 2018 Net income (oss) Requirement 2. Calculate the gross profit percentage for June for Fire 'N Ice, Inc. Start by determining the formula, then complete the calculation to determine gross profit percentage for the month. (Enter your answer as a percent rounded to the nearest tenth of a percent, X.X%.) Gross profit percentage Requirement 3. What does Fire "N Ice, Inc.'s gross profit percentage mean? (Enter the amount to one decimal place, X.X.) generates cents of Fire 'N Ice, Inc.'s gross margin percentage means that each dollar of that is used to cover and to generate - Data table Fire 'N Ice, Inc. Trial Balance June 30, 2018 Account Debit Credit Cash $ 4,700 Accounts receivable 33,400 Inventory 24,700 2,600 3,100 Estimated inventory returns Supplies Equipment Accumulated depreciation, equipment 75,000 $ 10,200 4,500 Accounts payable Estimated refunds liability 1,600 Unearned sales revenue 3,500 12,000 Note payable, long-term Common stock 45,000 34,700 Retained earnings Dividends 48,000 Sales revenue 280,000 Cost of goods sold Selling expense 140,000 43,500 General expense 16,100 400 Interest expense $ Total 391,500 $ 391,500 O X Requirements 1. Prepare the multistep income statement for June for Fire 'N Ice, Inc. 2. Calculate the gross profit percentage for June for Fire 'N Ice, Inc. 3. What does Fire 'N Ice, Inc.'s gross profit percentage mean