The following information is available for the Danville Saddle and Tack Company: Sales revenue Sales returns and allowances Cost of goods sold Operating expenses Interest expense Interest revenue Instructions $618,000 20,000 398,000 114,000 19,000 20,000 1. Use the above information to prepare a multiple-step income statement in good form with proper headings and date, for the year ended December 31, 2019. 2. Compute both the "gross" profit margin and also the "profit" margin. Note: Income Tax Rate is 25%