Advertising expense 9,000 Cost of goods sold 150,000 depreciation expense - computer 4,500 Dividend revenue 2,700 Income tax expense 30,700 Interest expense 1,900 Retn expense - office 26,400 Rent expense - salesperson's car 18,000 Sales revenue 350,000 Supplies expense - office 1,300 Utilities expense 6,750 Wages expense - office 45,600 Assume that Corbin Enterprises classifies all operating expenses in two categories (1) selling and (2) general and administrative Required Prepare a multiple-step income statement for the year ended December 31, 2008 What advantages do you see in this form for the income statement ? Compute Corbins profit margin Comment on Corbin's profitability. What other factors need to be taken into account to assess Corbin's profitability