The following is a listing of all of the income statement accounts for Mulberry Street Sportswear as they appear on the adjusted trial balance as of December 31.

Advertising Expense		$11,000
Cost of Goods Sold		87,800
Delivery Expense		4,500
Insurance Expense		1,200
Income Tax Expense		6,200
Rent Expense		10,900
Interest Expense		1,600
Sales Revenue		160,300
Sales Discounts		10,500
Sales Returns & Allowances		17,300

Required:

1. Prepare a multistep income statement.
2. Compute the gross profit percentage.

Complete this question by entering your answers in the tabs below. Required A Required B Prepare a multistep income statement. Mulberry Street Sportswear Income Statement Complete this question by entering your answers in the tabs below. Required A Required B Compute the gross profit percentage. (Round your answer to 1 decimal place (i. Gross Profit %