The following summarized data were provided by the records of State Inc. for the year ended December 31, 2020: w Sales of merchandise for cash Sales of merchandise on credit Cost of sales Selling expenses Administrative expenses Sales returns and allowances Bad debt expense Items not included in the above amounts: Average income tax rate, 404 Number of common shares outstanding, 5,000 $235,000 39,500 162,000 41,700 20,500 8,500 790 Required: 1. Based on these data, prepare a multiple-step statement of earnings (showing both gross profit/(loss) and earnings from operations) (Round "Earnings per share" to 2 decimal places.) SLATE, INC. Statement of Earnings For the Year Ended December 31, 2020 0 0 Operating expenses 0 Earnings before income tax 0 + $ 0 Earnings per share 2. Compute the amount of gross profit/Loss) and the gross profitilloss) percentage (Round percentage answer to the nearest whole percent (e., 0.124 should be entered as 12).)