The following data were taken from the records of Township Corporation at December 31 of the current year: $90,000 29,000 6,300 points Sales revenue Gross profit Selling (distribution) expense Administrative expense Pretax income Income tax rate Shares of stock outstanding 12,800 40 2,800 Required: 1. Prepare a complete classified (multiple-step) income statement for the company (showing both gross profit and income f operations). (Round "Earnings per share" to 2 decimal places.) Required: 1. Prepare a complete classified (multiple-step) income statement for the company (showing both gross profit and income from operations). (Round "Earnings per share" to 2 decimal places.) Answer is not complete. TOWNSHIP CORPORATION Income Statement For the Year Ended December 31, Current Year Sales revenue Cost of goods sold Gross profit Operating expenses: Selling expense $ 6,300 Administrative expense 12,800 90,000 61,000 29,000 Total operating expenses 19,100 12,800 Pretax income Oo oo Income tax expense Net income Earnings per share Total operating expenses Pretax income Income tax expense 19,100 12,800 Net income Earings per share 2. What is the gross profit percentage? (Enter your answer as a percentage rounded to 1 decimal place (i.e., 0.123 should be er as 12.3).) Answer is complete but not entirely correct. Gross profit percentage 30.2 %