In its income statement for the year ended December 31, 2022, Wildhorse Co. reported the following condensed data. Salaries and wages expenses $ 520,800 Loss on disposal of plant assets $ 93,520 Cost of goods sold 1,105,440 Sales revenue 2,475,200 Interest expense 79,520 Income tax expense 28,000 Interest revenue 72,800 Sales discounts 179,200 Depreciation expense 347,200 Utilities expense 123,200 (a) Your answer is correct. Prepare a multiple-step income statement. (List other revenues before other expenses.) Wildhorse Co. Income Statement For the Year Ended December 31, 2022 Sales Sales Revenue $ 2475200 Less V Sales Discounts 179200 i Net Sales $ Cost of Goods Sold Gross Profit Operating Expenses Salaries and Wages Expense 520800 i Utilities Expense 123200 i Depreciation Expense 347200 i Total Operating Expenses Income From Operations Other Revenues and Gains Interest Revenue Other Expenses and Losses Interest Expense 79520 i Loss on Disposal of Plant Assets 93520 i Income Before Income Taxes Hilal Income Tax Expense Net Income /(Loss) Wildhorse Co. Income Statement For the Year Ended December 31, 2022 $ 2475200 Sales Discounts 179200 i $ 2296000 old 1105440 1190560 enses ages Expense 520800 i nse 123200 i Expense 347200 i Expenses 991200 i perations 199360 s and Gains nue 72800 5 and Losses ase 79520 i sal of Plant Assets 93520 173040 i Income Taxes 99120 ense 28000 i oss) 71120 (b) Calculate the profit margin and gross profit rate. (Round answers to 0 decimal places, eg. 15%.) Profit margin % Gross profit rate % e Textbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit