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The following is a listing of all of the income statement accounts for Mulberry Street Sportswear as they appear on the adjusted trial balance as of December 31 Advertising Expense $ 10,700 Cost of Goods Sold 88,700 Delivery Expense 6,000 Insurance Expense 700 Income Tax Expense 4,640 Rent Expense 11,900 Interest Expense 1,200 Sales Revenue 160,300 Sales Discounts 10,700 Sales Returns & Allowances 18,800 Required: a. Prepare a multistep income statement. Include all operating expenses in one line tom called "Selling, General and Administrative Expenses and all non-operating revenues expenses) in one line item called "Other Revenue (Expenses), net". b. Compute the gross profit percentage. Complete this question by entering your answers in the tabs below. Required Required B Prepare a multistep Income statement. Include all operating expenses in one line item called "Selling, General and Administrative Expenses and all non-operating revenues(expenses) in one line item called "Other Revenue (Expenses), net MULBERRY STREET SPORTSWEAR Income Statement For the Year Ended December 31 Required A Required B Prepare a multistep Income statement. Include all operating expenses in one line item called "Selling, General and Administrative Expenses and all non-operating revenues(expenses) in one line item called "other Revenue (Expenses), net": MULBERRY STREET SPORTSWEAR Income Statement For the Year Ended December 31 Salon Revenue Sales Discounts Sales Returns and Allowances Cost of Goods Sold Gross Profit Advertising Expense Delivery Expense Rent Expense interest Expenso Income Tax Expense Net Income Required> saves Returns Allowances 18,800 Required: a. Prepare a multistep income statement. Include all operating expenses in one line item called "Selling, General and Administrative Expenses" and all non-operating revenues(expenses) in one line item called "Other Revenue (Expenses), net". b. Compute the gross profit percentage. Complete this question by entering your answers in the tabs below. Required A Required B Compute the gross profit percentage. (Round your answer to 1 decimal place (le, 0.1234 should be entered as 12.3).) Gross Profit %

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