Exercise 5-8 In its income statement for the year ended December 31, 2017, Cullumber Company reported the following condensed data. Salaries and wages 046250ssets 2,220,750 Sales revenue expenses Cost of goods sold Interest expense Interest revenue Depreciation expense 159,750 Incometax expense 146,250 Sales discounts 697,500 Utilities expense $187,87!5 4,972,500 56,250 360,000 247,500 Prepare a multiple-step income statement. (List other revenues before other expenses.) Calculate the profit margin and gross profit rate. (Round answers to 2 decimal places, eg, 15.25%.) Profit margin Gross profit rate