PA6-5 (Algo) Preparing a Multistep Income Statement and Computing the Gross Profit Percentage (LO 6-6] [The following information applies to the questions displayed below.] Big Tommy Corporation is a local grocery store organized seven years ago as a corporation. The bookkeeper prepared the following statement at year-end (assume that all amounts are correct, but note the incorrect format): BIG TOMMY CORPORATION Profit and Loss) December 31 Debit Credit Net Sales. Cost of Goods Sold Salaries and Wages Expense $582,300 $351,000 76,000 office Expense Travel Expenses Income Tax Expense 29,500 1,000: 37,440 Net Profit Totals 87,360 $582,300 $582,300 PA6-5 (Algo) Part 2 2. Compute the gross profit percentage. (Round your answer to 1 decimal place.) Gross Profit Percentage %