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 $10,400 88,100 5,300 700 5,960 10,700 1,500 160,400 10,500 18,300 Required: a. Prepare a multistep income statement. b. Compute the gross profit percentage