The following is the adjusted trial balance data for Emma's Alterations as of December 31, 2019. Emma's Alterations Adjusted Trial Balance Year Ended December 31, 2019 Debit Credit Cash $600,538 Accounts Receivable 52,689 199,430 Equipment Merchandise Inventory Accounts Payable 172,744 $235,893 Common Stock 502,200 Sales 400,193 Interest Revenue 100,976 65,300 27,250 Rent Revenue Sales Salaries Expense Office Supplies Expense Sales Discounts Interest Expense 5,903 61,347 3,570 Sales Returns and Allowances 55,532 Cost of Goods Sold 91,300 10,400 Rent Expense Depreciation Expense-Office Equipment Insurance Expense 8,560 3,421 Advertising Expense 11,878 Totals $1,304,562 $1,304,562 A. Use the data provided to compute net sales for 2019. 283,314 B. Compute the gross margin for 2019. 192,014 C. Compute the gross profit margin ratio (rounded to nearest hundredth). 0.68 D. Prepare a simple income statement for the year ended December 31, 2019. Emma's Alterations Simple Income Statement For Year Ended December 31, 2019 Revenues: Net Sales $ 283,314 Rent Revenue 65,300 Interest Revenue 100,976 449,590 Total Revenues Expenses: Cost of Goods Sold 91,300 Total Selling Expenses 61,347 X Total General and Administrative Expenses 28,384 X Interest Expense 3,570 Total Expenses 166,276 x Net Income $ 283,314 X E. Prepare a multi-step income statement for the year ended December 31, 2019. Emma's Alterations Multi-step Income Statement For Year Ended December 31, 2019 Sales 400,193 Sales Discounts 61,347 Sales Returns and Allowances 55,532 283,314 X Net Sales Operating Expenses Selling Expenses X Total Selling Expenses General and Administrative Expenses X X oiil jiiii ji Total General and Administrative Expenses Total Operating Expenses X Income from Operations Other Revenue and Expenses X Total Other Revenue and Expenses