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 $ 10,200 88,000 5,100 1,200 6,760 10,000 1,900 Sales Revenue 160,700 Sales Discounts 9,900 Sales Returns & Allowances 17,500 Rent Expense Interest Expense Required: a. Prepare a multistep income statement. Include all operating expenses in one line item called "Selling, General and Administrative Expenses" and all non-operating revenues(expenses) in one line item called "Other Revenue (Expenses), net. b. Compute the gross profit percentage. 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. Include all operating expenses in one line item called "Selling, General and Administrative Expenses" and all non-operating revenues(expenses) in one line item called "Other Revenue (Expenses), net". MULBERRY STREET SPORTSWEAR Income Statement For the Year Ended December 31 Sales Revenue $ 160,700 Sales Discounts 9,900 Sales Returns and Allowances 17,500 Net Sales 133,300 Cost of Goods Sold 88,000 Gross Profit 45,300 Selling, General, and Administrative Expenses 26,500 Income from Operations 26,500 Other Revenue (Expenses), net Income before Income Tax Expense Interest Expense Income Tax Expense Net Income