Exercise 5-07 Presented below is information for Blossom Co. for the month of January 2022. Cost of goods sold $215,600 Rent expense Freight-out 8,100 Sales discounts Insurance expense 13,700 Sales returns and allowances Salaries and wages expense 62,100 Sales revenue Income tax expense 5,600 Other comprehensive income (net of $400 tax) $32,600 8,900 17,600 398,500 2,000 BLOSSOM CO. Income Statement . I SHOW LIST OF ACCOUNTS SHOW LIST OF ACCOUNTS Prepare a comprehensive income statement. BLOSSOM CO. Comprehensive Income Statement SHOW LIST OF ACCOUNTS Calculate the profit margin and the gross profit rate. (Round answers to 1 de Profit margin % Gross profit rate % Click If you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS By accessing this Question Assistance, you will learn while you earn points based