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 Cost of Goods Sold Delivery Expense Insurance Expense Income Tax Expense Rent Expense Interest Expenso Sales Revenue Sales Discounts Sales Returns & Allowances $12,000 89,000 6,000 1,000 2,000 12,000 5,000 160,000 11,000 19,000 Required: a. Prepare a multistep income statement. b. 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 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 Cost of Goods Sold Delivery Expense Insurance Expense Income Tax Expense Rent Expense Interest Expense Sales Revenue Sales Discounts Sales Returns & Allowances $12,000 89,000 6,000 1,000 2,000 12,000 5,000 160,000 11,000 19,000 Required: a. Prepare a multistep income statement. b. Compute the gross profit percentage. 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 (f.e., 0.1234 should be entered as 12.3).) Gross Profit %