Exercise 5-07 Presented below is information for Oriole Co. for the month of January 2022. Cost of goods sold Freight-out Insurance expense Salaries and wages expense $208,400 Rent expense 9,000 Sales discounts 14,400 Sales returns and allowances 62,700 Sales revenue 400 Other comprehensive income (net of $400 tax) $33,900 8,900 19,500 393,500 2.000 Income tax expense Prepare an income statement using the multiple-step format. ORIOLE CO. Income Statement Prepare a comprehensive income statement. ORIOLE CO. Comprehensive Income Statement SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO VIDEO Calculate the profit margin and the gross profit rate. (Round answers to 1 decimal place, e.g. 15.2%.) Profit margin Gross profit rate Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS