Requirement 1. Prepare the multistep income statement for June for Dad's Deli, Inc. Net income (loss)...

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Requirement 1. Prepare the multistep income statement for June for Dad's Deli, Inc. Net income (loss) Dad's Deli, Inc. Income Statement For the Month Ended June 30, 2018 Data table Account Cash Accounts receivable Inventory Estimated inventory returns Supplies Equipment Accumulated depreciation, equipment Accounts payable Estimated refunds liability Unearned sales revenue Note payable, long-term Common stock Retained earnings Dividends Sales revenue Dad's Deli, Inc. Trial Balance June 30, 2018 Cost of goods sold $ Debit 3,200 35,600 20,100 2,200 2,400 75,000 56,000 130.500l Credit 1 8,000 4,900 1,300 2,100 12,000 15,000 76,200 290,000 Retained earnings Dividends Sales revenue Cost of goods sold Selling expense General expense Interest expense Total 56,000 130,500 67,900 16,100 500 76,200 290,000 409,500 $ 409,500 Requirement 2. Calculate the gross profit percentage for June for Dad's Deli, Inc. Start by determining the formula, then complete the calculation to determine gross profit percentage for the month. (Enter your answer as a percent rounded to the nearest tenth of a percent, X.X%.) Gross profit percentage % Requirement 3. What does Dad's Deli, Inc.'s gross profit percentage mean? (Enter the amount to one decimal place, X.X.) Dad's Deli, Inc.'s gross margin percentage means that each dollar of that is used to cover and to generate generates cents of Requirement 1. Prepare the multistep income statement for June for Dad's Deli, Inc. Net income (loss) Dad's Deli, Inc. Income Statement For the Month Ended June 30, 2018 Data table Account Cash Accounts receivable Inventory Estimated inventory returns Supplies Equipment Accumulated depreciation, equipment Accounts payable Estimated refunds liability Unearned sales revenue Note payable, long-term Common stock Retained earnings Dividends Sales revenue Dad's Deli, Inc. Trial Balance June 30, 2018 Cost of goods sold $ Debit 3,200 35,600 20,100 2,200 2,400 75,000 56,000 130.500l Credit 1 8,000 4,900 1,300 2,100 12,000 15,000 76,200 290,000 Retained earnings Dividends Sales revenue Cost of goods sold Selling expense General expense Interest expense Total 56,000 130,500 67,900 16,100 500 76,200 290,000 409,500 $ 409,500 Requirement 2. Calculate the gross profit percentage for June for Dad's Deli, Inc. Start by determining the formula, then complete the calculation to determine gross profit percentage for the month. (Enter your answer as a percent rounded to the nearest tenth of a percent, X.X%.) Gross profit percentage % Requirement 3. What does Dad's Deli, Inc.'s gross profit percentage mean? (Enter the amount to one decimal place, X.X.) Dad's Deli, Inc.'s gross margin percentage means that each dollar of that is used to cover and to generate generates cents of

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