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 $12,000 Cost of Goods Sold 89,000 Delivery Expense 6,000 Insurance Expense 1,000 Income Tax Expense 2,000 Rent Expense 12,000 Interest Expense 5,000 Sales Revenue 160,000 Sales Discounts 11,000 Sales Returns & Allowances 19,000 Required: a. Prepare a multistep income statement in proper format (no heading required). b. Compute the gross profit percentage and show your formula and rounded to 1 decimal place