C The journal entry to record 202000- X ACCT ses/36872/assignments/4855839 Translate News Current Attempt In Progress Presented below is Information for Sandhill Company for the month of January 2022 Cost of goods sold $289.000 Rent expense $33,000 7,700 Freight-out Insurance expense 7,800 12,500 42,000 Sales discounts Sales returns and allowances Sales revenue 9,000 Salaries and wages expense 438,000 Prepare a multiple-step income statement. SANDHILL COMPANY Income Statement MacBook Air eTextbook and Media List of Accounts Calculate the profit margin and the gross profit rate. (Round answers to 2 decimal places, eg. 15.25.) Profit margin Gross profit rate eTextbook and Media MacBook Air F OORE