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The following is a listing of all of the income statement accounts for Mulberry Street Sportswear...

The following is a listing of all of the income statement accounts for Mulberry Street Sportswear as they appear on the adjusted trial balance as of December 31.

Advertising Expense

 $10,100
  Cost of Goods Sold 87,600
  Delivery Expense 4,000
  Insurance Expense 800
  Income Tax Expense 6,920
  Rent Expense 11,600
  Interest Expense 1,300
  Sales Revenue 160,500
  Sales Discounts 9,100
  Sales Returns and Allowances 18,700
Mulberry Street Sportswear
Income Statement
For the year ended December 31
b. Compute the gross profit percentage. (Round your answer to one decimal place (i.e., 0.1234 should be entered as 12.3).)
Gross Profit %
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