Current Attempt in Progress Presented below is information for Ivanhoe Company for the month of January 2022. Cost of goods sold Freight-out $273,000 Rent expense 7,800 Sales discounts 800 Sales returns and allowances $36,000 7,600 suncee, ense 13,000 laries and wa per 46,000 Sales revenue 429,000 Prepare a multiple-step income statement IVANHOE COMPANY Income Statement Calculate the profit margin and the gross proftrate. (Round answers to 2 decimal places, e3. 15.250 Calculate the profit margin and the gross profit rate. (Round answers to 2 decimal places. e.8. 15.25.) Profit margin Gross profit rate Save for Later MacBook Air