The following is a listing of all of the income statement accounts for Mulberry Street Sportswear...

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The following is a listing of all of the income statement accounts for Mulberry Street Sportswear...

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		$11,800
Cost of Goods Sold		88,400
Delivery Expense		4,300
Insurance Expense		1,400
Income Tax Expense		5,840
Rent Expense		11,000
Interest Expense		1,900
Sales Revenue		160,500
Sales Discounts		9,600
Sales Returns & Allowances		17,500

Required:

Prepare a multistep income statement.
Compute the gross profit percentage.

business accounting

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