Trial Balance For the year ended December 31, 2020 Account Debit Credit Accounts Payable $4,000 Accounts receivable $85,00 Accumulated amortization, equipment 9,000 Amortization expense, equipment 4,500 Sales Discounts 400 Cash 1,200 Cost of goods sold 76,000 Equipment 75,110 Insurance expense w 350 Interest expense 140 Rita Roller, capital 32,500 Rita Roller, withdrawals 1,200 Inventory 2,100 Notes payable 3,000 Rent expense 660 Rent revenue 1,200 Salaries expense 2,700 Sales 125,000 Sales returns and allowances 1,400 Supplies 350 Supplies expense, store 90 $174,700 $174,700 Required: a. Use above the information to prepare a multi-step income statement for the year ended December 31, 2020. (Marks: 4%) b. Calculate the gross profit ratio for the year ended December 31, 2020. Interpret the ratio. (Marks: 1%)