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***** The adjusted trial balance of Sandhu Corporation at December 31, 2022 included the following selected accounts: Debit Credit Advertising expense. $ 15,000 Cost of
***** The adjusted trial balance of Sandhu Corporation at December 31, 2022 included the following selected accounts: Debit Credit Advertising expense. $ 15,000 Cost of goods sold....... 347,000 Depreciation expense. 3,296 Freight out............ 2,000 Income tax expense..... 32,000 Interest expense. 19,000 Interest income.... $15,000 Sales revenue... 509,500 Salaries expense.......... 45,000 Utilities expense. 18,000 Instructions (a) Use the above information to prepare a multiple-step statement of income for the year ended December 31, 2022. (b) Calculate the gross profit margin and the profit margin for 2022. You are to complete the questions above on appropriate separate document(s). Acceptable
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