Advertising expense 4,000 Cost of goods sold 120,000 Depreciation expense office computer Income tax expense Interest expense Interest revenue Loss on sale of auto 1,000 16,000 3,000 1,000 2,000 Rent expense - office 8,000 Salaries expense - office 30,000 Sales revenue 300,000 Sales commissions (paid) 50,000 Supplies expense - office 2,000 Utilities expense - office 5,000 C e Requirements: 1) Prepare, in good form, a multiple-step income statement, for the Avocado Company for the year ended December 31 of the current year. 2) Compute Avocado Company's gross profit ratio and profit margin? 3) For each dollar of Sales, how much does Avocado spend on their product and how much do they keep after paying for all expenses