Instructions: Please prepare a Multi-Step Income Statement on your scratch paper based on the following Partial Adjusted Trial Balance. Use this multi-step income statement to answer this question and the next two (2) questions. You will need to calculate 1.) Gross Profit, 2.) Operating Income, and 3.) Net Income After-taxes to answer these three (3) questions. Question: Based on the Multi-step Income Statement you prepared on your scratch paper, what is the amount of Gross Profit on the Multi-step Income Statement for the period ending 12/31/xx? Credit Adjusted Trial Balance December 31, 20xx Accounts Debit Cash $25,509 Accounts Receivable 50,000 Inventory 100.000 Prepaid Rent 4,000 Equipment 150,000 Accumulated Depreciation Accounts Payable Deferred Revenue Current Portion Long-term Debt Long-term Debt Bonds Payable Common Stock $ 50.000 25.000 25.000 10,000 50,000 75,000 25,000 25,000 25,000 10,000 50,000 75,000 25,000 0 50,000 5,000 Accounts Payable Deferred Revenue Current Portion Long-term Debt Long-term Debt Bonds Payable Common Stock Treasury Stock Retained Earnings Dividends Revenue Cost of Goods Sold Salaries Expense Rent Expense Insurance Expense Depreciation Expense Interest Expense Income Tax Expense Totals 150,509 75,000 5.000 25.000 5,000 10,000 2,000 4,000 $460.509 $460,509 Fill in the blank with your calculated number. DO NOT include commas, $ signs. period, decimal points, etc. Just enter the raw number Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24.123, you would only input 24123