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 $ $11,700$

Cost of Goods Sold $89,000$

Delivery Expense $5,900$

Insurance Expense $1,200$

Income Tax Expense $5,320$

Rent Expense $10,100$

Interest Expense $1,100$

Sales Revenue $161,200$

Sales Discounts $10,200$

Sales Returns & Allowances $18,700$

Required:

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$.$

Compute the gross profit percentage.

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".