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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 Income tax expense $218,200 Rent expense 9,600 Sales discounts 13,100 Sales returns and allowances 62,800 Sales revenue 5,500 Other comprehensive income (net of $400 tax) $34,600 10,000 19,400 396,000 2,000 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 LINK TO TEXT LINK TO VIDE Calculate the profit margin and 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