The following amounts appeared on Plymouth Electronics$$ adjusted trial balance as of December $31,2023.$

Debit Credit

Merchandise inventory $ $19,800$

Other assets $490,785$

Liabilities $ $315,370$

Celine Plymouth, capital $249,420$

Celine Plymouth, withdrawals $67,300$

Sales $945,000$

Sales discounts $14,880$

Sales returns and allowances $6,015$

Interest income $750$

Cost of goods sold $720,500$

Sales salaries expense $79,500$

Office salaries expense $56,800$

Rent expense, selling space $33,300$

Rent expense, office space $3,300$

Store supplies expense $1,650$

Office supplies expense $750$

Depreciation expense, store equipment $9,210$

Depreciation expense, office equipment $3,060$

Insurance expense $3,690$

Totals $ $1,510,540$ $ $1,510,540$

Required:

$1.$ Prepare a $2023$ classified multiple$-$step income statement for Plymouth Electronics.

$2.$ Prepare a single$-$step income statement.

Analysis Component:

Calculate the gross profit ratio for the year ended December $31,2023,$ and compare it to the prior year, commenting on whether the change was favourable or unfavourable. The gross profit ratio for Plymouth Electronics$$ year ended December $31,2022,$ was $32\%.($Do not round intermediate calculations. Round your answer to $2$ decimal places.$)$