he following data were taken from the records of Township Corporation at December 31, 2015:
Sales revenue $ 85,000
Gross profit 30,000
Selling (distribution) expense 7,000
Administrative expense ?
Pretax income 13,000
Income tax rate 35%
Shares of stock outstanding 2,500
Required:
1.Prepare a complete multiple-step income statement for the company. (Hint: Rely on the amounts and percentages given to infer missing values.) (Round "Earnings per share" to 2 decimal places.)
2. What is the gross profit percentage? (Enter your answer as a percentage rounded to 1 decimal place (i.e., 0.123 should be entered as 12.3)