nce Siieel H Teport format at May 31, 2017 Problem 5-7A 1. Use the data in Problem 5-6A to prepare Marchand Distributors' multi-step income Preparing a multi-step income 2. Corry Marchand, owner of the company, strives to earn a gross margin of at least margin percentage under the statement for the year ended May 31, 2017. statement and calculating gross perpetual inventory system 50 percent and a net income of 20 percent (Net income percentage Net income +Net sales revenue). Did Marchand Distributors achieve these goals? Show your calculations. nce Siieel H Teport format at May 31, 2017 Problem 5-7A 1. Use the data in Problem 5-6A to prepare Marchand Distributors' multi-step income Preparing a multi-step income 2. Corry Marchand, owner of the company, strives to earn a gross margin of at least margin percentage under the statement for the year ended May 31, 2017. statement and calculating gross perpetual inventory system 50 percent and a net income of 20 percent (Net income percentage Net income +Net sales revenue). Did Marchand Distributors achieve these goals? Show your calculations