E5-8 (Algo) Preparing a Classified (Multiple-Step) Income Statement and Computing the Gross Profit Percentage L05-3 The following data were taken from the records of Township Corporation at December 31 of the current year. $90,000 30,000 5,900 Sales revenue Gross profit Selling (distribution) expense Administrative expense Pretax income Income tax rate Shares of stock outstanding 12,500 35% 2,789 Required: 1. Prepare a complete classified (multiple-step) income statement for the company (showing both gross profit and income from operations) (Round "Earnings per share" to 2 decimal places.) TOWNSHIP CORPORATION Income Statement For the Year Ended December 31, Current Year Sales revenue $ Cost of goods sold Gross profit Operating expenses Selling expense 5.900 Administrative expense 11,600 90,000 60,000 30.000 17 500 Total operating expenses Pretax income Income tax expense Net Income Earnings per share Required: 1. Prepare a complete classified (multiple-step) income statement for the company (showing both gross profit and income from operations) (Round "Earnings per share" to 2 decimal places.) TOWNSHIP CORPORATION Income Statement For the Year Ended December 31, Current Year Sales revenue Cost of goods sold Gross profil 60.000 30,000 Operating expenses Selling expense Administrative expense $ 5,900 11.600 Total operating expenses Pretax income income tax expose 17.500 12,500 Net Income Earnings per share $ 301 2. What is the gross profit percentage? (Enter your answ as 12.3).) centage rounded to 1 decimal place (ie., 0.123 should be entered Caso por porcentage Pro 7 of 13 Next >