[The following information applies to the questions displayed below) Big Tommy Corporation is a local grocery store organized seven years ago as a corporation. The bookkeeper prepared the following statement at year-end (assume that all amounts are correct, but note the incorrect format); Credit $253,000 BIG TOMMY CORPORATION Profit and loss December 31 Debit Net Sales Coat of Goods Sold $199,000 Salaries and Wages Expense 38,000 Office Expense 1,000 Travel Expenses 1,000 Income Tax Expense 4,200 Net Profit 9,800 Totals $253,000 $253,000 1. Prepare a properly formatted multistep income statement that would be used for external reporting purposes. BIG TOMMY CORPORATION Income Statement 2. Compute the gross profit percentage. (Round your answer to 1 decimal place.) Gross Profit Percentage %