Time left 2:16:29 The Ice Cream Shop, Selected Accounts from the Adjusted Trial Balance dated December 31, 2020 (for its year ended December 31, 2020). Sales $325,000 Advertising expense 8.000 Sales allowances 3,000 Inventory 32,604 Depreciation expense 10,000 Purchase discounts 3,730 Purchase returns 7.000 Transportation in 3.560 Josh Mayer, capital 16,270 CR Sales discounts 6.400 Office supplies expense 5,000 Purchase allowances 2500 Sales returns 2.000 Purchases 196.000 Property tax expense 14.625 Wages expense 62.815 REQUIRED (NO TE THAT ALL ACCOUNTS HAVE THEIR NORMAL DEBITOR CREDIT PLANAR REQUIRED (NO TE THAT ALL ACCOUNTS HAVE THEIR NORMAL DEBIT OR CREDITime left 2:16:11 BALANCES): The inventory on hand at December 31, 2020 was $30.774. Part A. Using the PERIODIC SYSTEM, prepare ONLY the part of a classified, multiple-step Income Statement that includes the SALES, COST OF GOOD SOLD, and GROSS PROFIT sections (12 marks) Part B. Calculate the gross margin % (also known as the gross profit %) (2 marks). Part C. Prepare the second closing entry under the PERIODIC SYSTEM that closes the temporary accounts with debit balances and removes beginning inventory (8 marks) - NEED A DATE, but NO EXPLANATION REQUIRED Part D. Calculate the sales discount percentage resulting from the sales to customers of the Ice Cream Shop The Ice Cream shop is offering its customers a 2.5% discount if they pay their credit invoices within 10 days. Based upon your calculation, what percent of net sales are being paid within the discount period