The following summarized data were provided by the records of Mystery Incorporated for the year ended December 31:

Administrative Expense	$	19,400
Cost of Goods Sold		167,000
Income Tax Expense		18,000
Sales Returns and Allowances		7,200
Selling Expense		41,000
Sales of merchandise for cash		250,000
Sales of merchandise on credit		43,000

Required: 1. Based on these data, prepare a multi-step income statement for internal reporting purposes.

2-a. What was the amount of gross profit?

2-b. What was the gross profit percentage?