The following is a listing of some of the balance sheet accounts and all of the income statement accounts for Mulberry Street Sportswear as they appear on the 12/31/14 adjusted trial balance.
Required:
A)Prepare a multi-step income statement for 2014 for Mulberry Street Sportswear.
B)Compute the gross profit percentage for 2014 for Mulberry Street Sportswear.
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