The following information is available for Ivanhoe Company:

Sales revenue		$631,000
Sales returns and allowances		33,000
Cost of goods sold		383,000
Operating expenses		150,000
Interest expense		17,000
Interest revenue		21,000

(a)

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Use the above information to prepare a multiple-step income statement for the year ended December 31, 2022. (List other revenues before other expenses.)

IVANHOE COMPANY Income Statement For the Month Ended December 31, 2022For the Year Ended December 31, 2022December 31, 2022
select an opening name for section one DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31SalesTotal ExpensesTotal RevenuesNet SalesGross ProfitOperating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From Operations
enter an income statement item		$enter a dollar amount
select between addition and deduction AddLess: enter an income statement item		enter a dollar amount
select a closing name for section one DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31SalesTotal ExpensesTotal RevenuesNet SalesGross ProfitOperating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From Operations				$enter a total amount for section one
enter an income statement item				enter a dollar amount
select a summarizing line for the first part DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31SalesTotal ExpensesTotal RevenuesNet SalesGross ProfitOperating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From Operations				enter a total amount for the first part
select an opening name for section two DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31SalesTotal ExpensesTotal RevenuesNet SalesGross ProfitOperating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From Operations				enter a dollar amount
select a summarizing line for the second part DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31SalesTotal ExpensesTotal RevenuesNet SalesGross ProfitOperating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From Operations				enter a total amount for the second part
select an opening name for section three DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31SalesTotal ExpensesTotal RevenuesNet SalesGross ProfitOperating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From Operations
enter an income statement item				enter a dollar amount
select an opening name for section four DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31SalesTotal ExpensesTotal RevenuesNet SalesGross ProfitOperating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From Operations
enter an income statement item				enter a dollar amount
select a closing name for this statement DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31SalesTotal ExpensesTotal RevenuesNet SalesGross ProfitOperating ExpensesIncome Before Income TaxesOther Revenues and GainsOther Expenses and LossesIncome From Operations				$enter a total net income or loss amount

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(b)

Compute the profit margin. (Round profit margin to 1 decimal places, e.g. 15.2%.)

Profit margin

enter the profit margin in percentages rounded to 1 decimal place %