Lilly Co. sells Easter products. It just completed its second year of business. The following adjusted trial balance at December 31, 2020 shows the accounts in alphabetical order: Lilly Co. Adjusted Trial Balance December 31, 2020 Debit Credit Accounts Payable $35,000 Accounts Receivable $ 75,000 Cash 215,000 Common shares, 30,000 shares issued 145,000 Cost of goods sold Dividends declared - common shares 250,000 10,000 5,000 Interest expense Operating expenses Retained Earnings 225,000 30,000 Sales revenue 600,000 Tax expense 30,000/ TOTAL $ 810,000 $ 810,000 Required: Do all 3 requirements: 1. Prepare a multi-step income statement for Lilly Co. for the year ended December 31, 2020 in a good format. 2. Calculate the Gross Profit Percentage for the year ended December 31, 2020. The formula is: Gross Profit Percentage = Gross profit