On December 31, 2014, the end of Ucore Sales' annual accounting period, the financial statement columns of its work sheet appeared as follows in alphabetical order:

Required
1. Prepare a classified, multiple-step income statement for Ucore Sales, like Exhibit 5.15.
2. Prepare a single-step income statement, like Exhibit 5.17.
Analysis Component: The gross profit ratio for Ucore Sales' year ended December 31, 2013, was 28%. Calculate this ratio for the year ended December 31, 2014, and compare it to the prior year, commenting on whether the change was favourable or unfavourable (round to two decimal places).

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Ucore Sales Work Sheet For the Year Ended December 31, 2014 Balance Sheet & Statement of Changes in Equity Income Statement Account Dr 129,964 690 Cost of goods sold Depreciation expense, office equipment Depreciation expense, store equipment Insurance expense Liabilities Lyle Ucore, capital Lyle Ucore, withdrawals Merchandise inventory Other assets Rent expense (8096 sales) Salaries expense (7096 sales) Sales Sales discounts Sales returns and allowances Supplies expense (35% sales) 3,204 1,240 84,000 46,547 20,500 3,400 102,952 19,950 71,000 226,500 278 1,469 2,400 Totals Net loss Totals 230,195 226,500 126,852 130,547 3,695 3,695 230,195 230,195 130,547 130,547