Required information CP6-5 Preparing a Multistep Income Statement and Computing the Gross Profit Percentage [LO 6-6] The following information applies to the questions displayed below) Psymon Company, Inc, sells construction equipment. The annual fiscal period ends on December 31. The following adjusted trial balance was created from the general ledger accounts on December 31 Account Titles Debits Credits Cash $ 54,560 Accounts Receivable 22,800 Inventory 3,000 Property and comment 62.000 Accumulated Depreciation $ 20,000 Accounts Payable Connon Stock 38,400 114,00 Hetained Earnings, January 1 14.000 Sales Mavenue 217,400 Cost of Goods sold 120,00 Salaries and Wages Expense 21,800 Office Expenses 22,00 Interest Expense 3,200 Income Tax Expense 12, BD Totals 5409,00 $409,000 CP6-5 Part 1 Required: 1. Prepare a multistep income statement that would be used for external reporting purposes. TIP: Some of the accounts listed will appear on the balance sheet rather than the income statement Required: 1. Prepare a multistep income statement that would be used for external reporting purposes. TIP: Some of the accounts listed will appear on the balance sheet rather than the income statement PSYMON COMPANY, INC. Income Statement For the Year Ended December 31 0 CP6-5 Part 2 2. Compute the gross profit percentage. (Round your answer to 1 decimal place.) Gross Profit Percentage %