The Skate Shod, Inc.'s classified balance sheet and multistep income statement as of and for the year ended January 31, 2018 follow (Click the icon to view the classified balance sheet.) (Click the icon to view the income statement) Calculate the gross profit percentage and the net income percentage for The Skate Shed, Inc., for 2018 Start by calculating the gross profit percentage for 2018. Select the formula and then complete the calculation (Round to the nearest one-hundredth of a percent, XXX56.) = Gross profit % The Skate Shed, Inc. Balance Sheet January 31, 2018 Assets Current Assets: Cash Accounts receivable Inventory Estimated inventory returns 2,750 3,100 4,375 325 1,200 Prepaid rent Total current assets Fauinment net 11,750 25,700 Print Done Clear All i Reference Current Liabilities: Accounts payable Salaries payable Estimated refund liability Accrued liabilities Total current liabilities 4,250 1,150 550 2,475 8,425 23,000) 31,425 Long-term notes payable Total liabilities Stockholders' Equity Total stockholders' equity 6,025 37,450 Total liabilities and stockholders' equity Print Done The Skate Shed, Inc. Income Statement Year Ended January 31, 2018 of a Sales revenue Cost of goods sold 41,500 21,000 Gross profit 20,500 6,475 Total operating expenses Operating income (loss) Interest expense Net income (loss) 14,025 (375) 13,650 Print Done