The following income statement items, arranged in alphabetical order, are taken from the records of Corbin Enterprises for the current year: Assume that Corbin Enterprises classifies all operating expenses into two categories: (1) selling and (2) general and administrative. Labels and Amount Descriptions Labels For the Current Month For the Current Year General and administrative expenses Operating expenses Other revenues and expenses Selling expenses Amount Descriptions Excess of other revenues over other expenses Gross profit Income before taxes Check My Work Income Statement Labels and Amount Descriptions Other revenues and expenses Selling expenses Amount Descriptions Excess of other revenues over other expenses Gross profit Income before taxes Income from operations Total general and administrative expenses 4 Total operating expenses 5 Total selling expenses 6. Net income Chedk My Work Q1 2. What advantage do you see in muiti-sep income statement? 4. Comment on Corbin's profitabutiy. What other factors need to be taken into account to assess Corbin's profitabily? Aprofit margin of 4 means that for every dolat of sales the company has net income of 5 What other factors need to be taken into account to assess Corbin's proftabilty? Check all that appyy