Use this information to answer the following question. 
If the income statement were prepared in a multistep form,gross margin from sales would be
Definitions:
Shipping Costs
Expenses associated with the transportation of goods from the seller to the buyer, which can include packaging, postage, and handling fees.
Purchase Order
A formal document sent by a buyer to a seller with details about a purchase, including quantities and prices of products.
Purchase Contract
A purchase contract is a legal agreement between a buyer and seller detailing the terms and conditions under which a product or property is sold.
Legal Offer
A proposal by one party to another intended to create a legally binding agreement upon acceptance.
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