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 $10,800 Cost of Goods Sold 88,600 Delivery Expense 5,400 Insurance Expense 1,400 Income Tax Expense 5,800 Rent Expense 11,400 Interest Expense 1,700 Sales Revenue 161,700 Sales Discounts 10,600 Sales Returns & Allowances 17,300 Required: Prepare a multistep income statement. 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 For the Year Ended December 31 Net Sales 133,800 88,600 Cost of Goods Sold Gross Profit 45,200 Selling, General, and Administrative Expenses 57,700 1,700 Income from Operations Other Revenue (Expenses), net Income before Income Tax Expense Income Tax Expense Net Income 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 (i.e., 0.: Gross Profit %