Part A. The following information is available for Entity A: Sales revenue $753,000 Sales returns and allowances 14,500 Sales discounts 8,100 Cost of goods sold 377,000 Operating expenses 128,000 Interest expense 1,200 Loss on sale of land held for investment 4,200 Dividend revenue 6,600 Instructions 1. Use the above information to prepare a multiple-step income statement for the year ended December 31, 2023. The income tax rate is 30%. Check figures: Income from operations is $225,400. Net income is $158,620. 2. Compute the profit margin and the gross profit rate. Show and label calculations. 3. Suggest at least three ways these measures might be materially improved and net income increased. Be sure to consider the relationship between net sales, cost-of- goods-sold and gross profit.