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.
Definitions:
Objectives
Specific, measurable goals set by an individual or organization to achieve desired outcomes.
Covey
A small flock of birds, often used metaphorically to describe a group of similar things or individuals.
Organization
An entity composed of individuals and resources structured to achieve specific objectives or perform a set of tasks.
Planning
The process of setting goals, defining strategies to achieve those goals, and developing plans to integrate and coordinate activities.
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