[The following information applies to the questions displayed below.]

The following summarized data were provided by the records of Mystery Incorporated for the year ended December 31:

Office Expense	$	19,700
Cost of Goods Sold		172,000
Income Tax Expense		19,820
Sales Returns and Allowances		7,470
Salaries and Wages Expense		43,000
Sales of Merchandise on Cash		254,000
Sales of Merchandise for Credit		44,800

Required:

1.

Prepare a multistep income statement for internal reporting purposes.

What was the amount of gross profit?

2-b.	What was the gross profit percentage? (Round your answer to 1 decimal place.)