Current Attempt in Progress The following selected accounts from the Sheffield Corp.'s general ledger are presented below for the year ended December 31, 2022 Advertising expense Common stock Cost of goods sold Depreciation expense Dividends Freight-out Income tax expense Insurance expense Interest expense $ 58,000 253,000 1,088,000 128,000 153,000 28,000 73,000 15,000 72,000 Interest revenue Inventory Rent revenue Retained earnings Salaries and wages expense Sales discounts Sales returns and allowances Sales revenue $ 35,000 70,000 24,000 538,000 677,000 8,900 46,000 2,402,000 Prepare a multiple-step income statement Sheffield Corp. Income Statement > Question 4 of 4 Splish Brothers Inc. Blossom Company $114,000 $ Sales revenue Sales returns and allowances 7.400 108,000 130,000 Net sales Cost of goods sold 72,360 Gross profit 45,500 Operating expenses 21,600 Net income 19.500 eTextbook and Media Calculate the profit margin and the gross profit rate for each company. (Round answers to 0 decimal places, es Splish Brothers Inc. Blossom Company Profit margin 56 Gross profit rate e Textbook and Media 8