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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 Cost of Goods Sold Delivery Expense Insurance Expense Income Tax Expense Rent Expense Interest Expense Sales Revenue Sales Discounts Sales Returns & Allowances $12,000 89,000 6,000 1,000 2,000 . 12,000 5,000 160,000 11,000 19,000 Required: a. Prepare a multistep income statement. b. Compute the gross profit percentage. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a multistep income statement. Mulberry Street Sportswear Income Statement Daube Company's operations for the month of July are summarized as follows: A. Provided $9,400 of services on account. B. Received $3,500 cash from customers for services provided in July. C. Received $1,400 cash for services to be provided in August. D. Received $3,500 cash from customers on account for services provided in June. E. Paid June's warehouse rental bill on account in the amount of $1,400. F. Received July's warehouse rental bill of $1,100; set it aside to be recorded at a later date. Required: a. Determine the net income for July using the cash basis of accounting. b. Determine the net income for July using the accrual basis of accounting. Complete this question by entering your answers in the tabs below. Required A Required B Net Income

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