CP6-5 Preparing a Multistep Income Statement and Computing the Gross Profit Percentage Psymon Company, Inc., sells construction equipment. The annual fiscal period ends on December 31 . The following adjusted trial balance was created from th general ledger accounts on December 31: Required: 1. Prepare a multistep income statement that would be used for external reporting purposes. TIP: Some of the accounts listed will appear on the balance sheet rather than the income statement. 2. Compute and interpret the gross profit percentage (using the formula shown in this chapter and rounding to one decimal place)