Construct a P&L statement for the following figures.

Please calculate Gross Margin percentage For the season, the accounting department forwarded to you the following information. Construct a P&L Statement from the following figures: Opening Inventory (Cost) $148,000 Advertising $ 30,000 Gross Sales $496,000 Misc. Expenses $ 36,000 Billed Costs $240,000 Closing Inventory (Cost) $156,000 Customer Returns $ 51,600 Selling Salaries $ 52,000 Freight Charges $ 16,000 Wrapping & Packing $ 39,000 Rent $ 40,000 Alterations & Workroom $ 2,000 Cash Discount 2% 0 44.3% 0 44.8% O 55.8% O 55.2%