Question 1 In its income statement for the year ended December 31, 2017, Pharoah Company reported the following condensed data. $604,500 Salaries and wages expenses Cost of goods sold Interest expense Interest revenue Depreciation expense 1,283,100 92.300 84,500 403,000 Loss on disposal of plant assets Sales revenue Income tax expense Sales discounts Utilities expense $ 108,550 2,873,000 32,500 208,000 143,000 Prepare a multiple-step income statement. (List other revenues before other expenses.) PHAROAH COMPANY Income Statement For the Year Ended December 31, 2017 $ $ . A $ > Calculate the profit margin and gross profit rate. (Round answer to decimal place, e.g. 15.2 %.) Profit margin % Gross profit rate % Click if you would like to Show Work for this question: Open Show Work