Question 20 of 27 < > View Policies Current Attempt in Progress The adjusted trial balance of Sandhill Company included the following selected accounts: Debit Credit Sales Revenue $633,000 Sales Returns and Allowances $52,000 Sales Discounts 9,500 Cost of Goods Sold 390,000 Freight-Out 3,000 Advertising Expense 17,700 Interest Expense 23,700 Salaries and Wages Expense 85,000 Utilities Expense 24,000 Depreciation Expense 3,900 Interest Revenue 25,800 -/10 E Use the above information to prepare a multiple-step income statement for the year ended December 31, 2022. (List other revenues before other expenses.) SANDHILL COMPANY Income Statement $ $ Calculate the profit margin and gross profit rate. (Round answers to 1 decimal places, e.g. 15.2%) Profit margin Gross profit rate Save for Later % % $ $ Attempts: 0 of 1 used Submit Answer