Amazon: th X Amazon top x education.com/ext/map/index.html?_con-con&external_browser=0&launchUrl=https%253A%252F%252Fn 5-Chapter 6 i Saved Administrative Expense Cost of Goods Sold Income Tax Expense Selling Expense Sales Returns and Allowances Sales of merchandise for cash Sales of merchandise on credit $ 23,000 185,000 21,600 9,000 48,200 340,000 52,000 Required: 1. Based on these data, prepare a multi-step income statement for internal reporting purposes. MYSTERY INCORPORATED Income Statement For the Year Ended December 31 Operating expenses: Required: 1. Based on these data, prepare a multi-step income statement for internal reporting purposes. MYSTERY INCORPORATED Income Statement For the Year Ended December 31 Operating expenses: Accounts receivable Net income S 0 2-a. What was the amount of gross profit? Gross profit 2-b. What was the gross profit percentage? Gross profit percentage % Coints 2-c. Which of the following(s) is true? (Select all that apply.) The gross profit percentage is the average amount of gross profit eamed on each dollar of net purchase The gross profit is cost of goods sold minus net sales revenue The gross profit is net sales revenue minus cost of goods sold ebook The gross profit percentage is the average amount of gross profit eamed on each dollar of net sales. Print References 3. Did the gross profit percentage in the current year improve, or decline, relative to the 50 percent gross profit percentage in the prior year? There is in the gross profit percentage when compared to 50% in the previous year