Bridgeport Enterprises reported the following figures from its adjusted trial balance for its first year of business, which ended on June 30, 2019.
Requirements:
a. Prepare a multi-step income statement.
b. Prepare the statement of retained earnings.
c. Prepare a classified balance sheet.
d. Compute the gross profit percentage.
a.
b.
c.
d.
Gross profit percentage = $11,500 / $35,000 = 32.9%
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