In its income statement for the year ended December 31, 2018, Alpen Company reported the following condensed data.

Salaries and wages expense $ 475,000

Loss on disposal of plant assets $ 84,500

Cost of goods sold 986,000

Sales revenue 2,150,000

Interest expense 70,000

Income tax expense 62,900

Interest revenue 63,000

Sales discounts 150,000

Depreciation expense 320,000

Utilities expense 120,000

(a) how is the multiple-step income statement.

(b) what is the profit margin and gross profit rate.

(c) In 2017, Alpen had a profit margin of 5%. Is the decline in 2018 a cause for concern? (Ignore income tax effects.)