WITIW let injustice Untitled document- hapter Assignment Bad Sports How lying in-R Saved Help Required information [The following information applies to the questions displayed below.) Emily's Greenhouse Corporation is a local greenhouse organized 10 years ago as a corporation. The bookkeeper prepared the following statement at year-end (assume that all amounts are correct, but note the incorrect format): EMILY'S GREENHOUSE CORPORATION Profit and Loss December 31 Debit Credit Net Sales $838,500 Cost of Goods Sold $408,000 Salaries and Wages Expense 129,000 Office Expenses 38,500 Travel Expenses 11,300 Income Tax Expense 75,510 Net Profit 176, 190 Totals $838,500 $838,500 Income Tax Expense Net Profit Totals 75,510 176, 190 $838,500 $838,500 Required: 1. Prepare a properly formatted multistep income statement that would be used for external reporting purposes. EMILY'S GREENHOUSE CORPORATION Income Statement pres the questions displayed below.) Emily's Greenhouse Corporation is a local greenhouse organized 10 years ago as a corporation. The bookkeeper prepared the following statement at year-end (assume that all amounts are correct, but note the incorrect format): EMILY'S GREENHOUSE CORPORATION Profit and Loss December 31 Debit Credit Net Sales $838,500 Cost of Goods Sold $408,000 Salaries and Wages Expense 129,000 Office Expenses 38,500 Travel Expenses 11,300 Income Tax Expense 75,510 Net Profit 176, 190 Totals $838,500 $838,500 2. Compute the gross profit percentage. (Round your answer to 1 decimal place.) Gross Profit Percentage