E5-6 Presented below is information for Lieu Co. for the month of January 2017. Cost of goods sold Freight-out Insurance expense Salaries and wages expense Income tax expense Prepare compre $212,000 7,000 12,000 60,000 5,000 Rent expense Sales discounts Sales returns and allowances Sales revenue Other comprehensive income (net of $400 tax) $ 32,000 8,000 profitab 20,000 370,000 stateme (LO 4, 6), 2,000 Instructions (a) Prepare an income statement using the format presented in Illustration 5-11 (b) Prepare a comprehensive income statement. (c) Calculate the profit margin and the gross profit rate