Use the data for Atlantis Aquatics, Inc., from E4-21 A. Requirements 1. Prepare Atlantis Aquatics multi-step income
Question:
Use the data for Atlantis Aquatics, Inc., from E4-21 A.
Requirements
1. Prepare Atlantis Aquatics’ multi-step income statement.
2. Calculate the gross profit percentage.
3. The gross profit percentage for 2009 was 38.7%. Did the gross profit percent¬ age improve or deteriorate during 2010?
4-21
The account balances for Atlantis Aquatics, Inc., for the year ended December 31, 2010, are presented next in random order:
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