Use the following Adjusted Trial Balance to prepare a Merchandising MULTI-STEP Income Statement and calculate the profit margin & gross profit rate. The worksheet in the Ch 5 Module will be helpful. Credit Account Description Cash Accounts Receivable Teaching Supplies Prepaid Insurance Prepaid Rent Store Equipment Accumulated Depreciation, Store Equipment Accounts Payable Salaries Payable Long-term Notes Payable Common Stock Retained Earnings Dividends Debit $38,600 17,000 3,500 6,000 2,000 175,000 75,000 9,000 2,600 18,000 30,000 56,000 15,000 779.000 Sales Sales Discounts Sales Returns & Allowances Cost of Goods Sold Depreciation Expense - Store Equipment Wages & Salary Expense Rent Expense Research & Development Expense Advertising Expense Income Tax Expense Utilities Expense Interest Expense 4,000 12,500 465,000 20,000 82,000 30,000 28,000 14,000 19.000 16,000 22.000 $969,600 $969.600