In its income statement for the year ended December 31, 2017, Wildhorse Co. reported the following condensed data. Salaries and wages expenses Cost of goods sold Interest expense Interest revenue Depreciation expense $976,500 Loss on disposal of plant assets $175,350 2.072,700 Sales revenue 4,641,000 149.100 Income tax expense 52.500 136,500 Sales discounts 336,000 651,000 Utilities expense 231,000 Prepare a multiple-step income statement. (List other revenues before other expenses.) WILDHORSE CO. Income Statement For the Year Ended December 31, 2017 1 Sales Revenues Sales Revenue 4641000 Less : Sales Discounts 336000 Net Sales 4305000 Cost of Goods Sold 2072700 Gross Profit 2232300 Operating Expenses Salaries and Wages Expense 976500 Depreciation Expense 651000 Utilities Expense 231000 Total Operating Expenses 1858500 Income From Operations 373800 Other Revenues and Gains Interest Revenue 136500 Other Expenses and Losses Interest Expense 149100 Loss on Disposal of Plant Assets 175350 324450 Income Before Income Taxes Income Tax Expense Net Income /(Loss) e Textbook and Media List of Accounts Calculate the profit margin and gross profit rate. (Round answer to 1 decimal place, e.g. 15.2%.) Profit margin Gross profit rate