[The following information applies to the questions displayed below.) Teddy's Toys sells a variety of children's toys, games, books, and accessories. Assume that a local store has the following amounts for the month of March 2018. Sales revenue Advertising expense Rent expense Gain on sale of building Inventory (Mar. 1, 2018) Interest expense $67,800 Cost of goods sold 4,5002018 Inventory (Mar. 31. 2,400 Insurance expense 5,600 Sales discounts 1,850 Salaries expense 1,500 Income tax expense $34,850 1,000 1,350 2,050 7,500 2,300 Required: 1. Prepare a multiple-step income statement for the month ended March 31, 2018. Teddy's Toys Multiple-step Income Statement For the month of March, 2018 Net sales: Total sales revenue Net sales revenue Operating expenses: Total Operating income Non-operating items: Total Required information [The following information applies to the questions displayed below.) Teddy's Toys sells a variety of children's toys, games, books, and accessories. Assume that a local store has the following amounts for the month of March 2018. Sales revenue Advertising expense Rent expense Gain on sale of building Inventory (Mar. 1. 2018) Interest expense $67,800 Cost of goods sold Inventory (Mar. 31, 4,502018) 2,400 Insurance expense 5,600 Sales discounts $34,850 1,000 1,350 2,050 1.850 1,500 Salaries expense Income tax expense 7,500 2,300 2. Calculate the gross profit percentage for the month of March. (Round your answer to 1 decimal place after converting to a percentage.) Gross Profit Percentage