{b \\___: [ Total Operating Expenses 129800 i Income From Operations 6 32200 Other Revenues and Gains 3 | Interest Revenue I 25700 Other Expenses and Losses 6 Interest Expense 22200 i [ Net Income / (Loss) c] $ 155500 eTextbook and Media List of Accounts at Your answer is incorrect. Calculate the prot margin and gross prot rate. ( Round answers to 1 decimal places, e.g. 15.2%.) Prot margin % Gross prot rate % The adjusted trial balance of Ivanhoe Company included the following selected accounts: Debit Credit Sales Revenue $630,000 Sales Returns and Allowances $51,000 Sales Discounts 9,000 Cost of Goods Sold 408,000 Freight-Out 2,600 Advertising Expense 13,300 Interest Expense 22,200 Salaries and Wages Expense 85,000 Utilities Expense 25,000 Depreciation Expense 3,900 Interest Revenue 25,700 IVANHOE COMPANY Income Statement For the Year Ended December 31, 2022 6 ' Sales 4b Sales Revenue $ 630000 Less : Sales Returns and Allowances $ 51000 a Sales Discounts 9000 I 60000 I Net Sales 9 570000 Cost of Goods Sold 408000 I Gross Prot 3 162000 Operating Expenses 3 FreightOut $ 2600 Advertising Expense 13300 Depreciation Expense 3900 Salaries and Wages Expense 85000 Utilities Expense 25000