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The following account information, in alphabetical order, was taken from the work sheet of Compu-Soft for the month ended November 30, 2020.

		Adjusted Trial Balance
	Account		Debit			Credit
201	Accounts payable				$	670
106	Accounts receivable	$	1,120
166	Accumulated depreciation, store equipment					3,800
101	Cash		1,700
502	Cost of goods sold		14,000
612	Depreciation expense, store equipment		120
301	Peter Delta, capital					2,455
302	Peter Delta, withdrawals		6,400
406	Rent revenue					1,700
413	Sales					28,600
415	Sales discounts		45
414	Sales returns and allowances		640
165	Store equipment		6,400
690	Utilities expense		1,300
623	Wages expense		5,500
	Totals	$	37,225		$	37,225

Required: Prepare a multiple-step income statement for the month ended November 30, 2020.

Analysis component: Assume that for the month ended October 31, 2020, net sales were $47,000, cost of goods sold was $34,200, and income from operations was $9,800. Calculate the companys gross profit ratios for October and November. (Do not round intermediate calculations. Round your final answers to 2 decimal places.)

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