Presetedbe n ommation for Ivanhoe Company for the month of January 2022. Cost of goods sold Freight-out $73,000 Rent expense $36,000 7,800 Sales discounts 7,600 Insurance expense 12.800 Sales returns and allowances Salaries and wages expense 46,000 Sales revenue 13.000 429,000 Prepare a multiple-step income statement IVANHOE COMPANY Income Statement r o roouse403490500131916014 IVANHOE COMPANY Income Statement Calculate the profit margin and the gross profit rate. (Round answers to 2 decimal places, s. 15.25 Profit margin