E5.12 Prepare multi-step income statement and calculate profitability ratios. In its income statement for the year ended December 31, 2025, Darren Company reported the following condensed data. Instructions a. Prepare a multiple-step income statement. b. Calculate the profit margin and gross profit rate. NOTE: Enter a formula, a cell reference, or a value (if you are unable to reference a cell), into the yellow shaded input cells. a. Darren Company Income Statement \begin{tabular}{|l|l|l|l|l|} \hline \multicolumn{2}{|c|}{ For the Year Ended December 31, 2025 } \\ \hline Sales revenue & & \\ \hline Less: Sales discounts & & \\ \hline Net sales & & \\ \hline Cost of goods sold & & \\ \hline Gross profit & & \\ \hline Operating expenses & & \\ \hline Salaries and wages expense & & \\ \hline Depreciation expense & & \\ \hline Utilities expense & \\ \hline Total operating expenses & \\ \hline Income from operations & \\ \hline Other revenues and gains & \\ \hline Interest revenue & \\ \hline Other expenses and losses & \\ \hline Loss on disposal of plant assets & \\ \hline Interest expense & \\ \hline Income before income taxes & \\ \hline Income tax expense & \\ \hline Net income & \\ \hline \end{tabular}