Exercise 5-8 (Essay) In its income statement for the year ended December 31, 2017, Darren Company reported the following condensed data. Salaries and wages expenses Cost of goods sold Interest expense Interest revenue Depreciation expenses $465,000 Loss on disposal of plant assets 83,500 2,210,000 25,000 160,000 110,000 987,000 Sales revenue 71,000 Income tax expense 65,000 Sales Discount 10,000 Utilities expense In 2016, Darren had a profit margin of 5%. Is the decline in 2017 (profit margin-3%) a cause for concern? (Ignore income tax effects.) Click if you would like to Show Work for this question: Open Show Work SHOW SOLUTION LINK TO TEXT LINK TO TEXT