Presented below is information for Kingbird, Inc. for the month of March 2019. $212,500 Rent expense $32,460 Cost of goods sold Freight-out 6,490 7,740 Sales discounts Sales returns and allowances Insurance expense 5,570 12,990 Salaries and wages expense 55,700 Sales revenue 386,050 Prepare a multiple-step income statement. If there is a net loss then enter the amount using either a negative sign preceding the number eg.-45 or parentheses e.g. (45)) Kingbird, Inc. Income Statement Kingbird, Inc. Income Statement $ $ e Textbook and Media List of Accounts e Textbook and Media List of Accounts Compute the gross proftrate. (Round answer to 2 decimal places, eg. 25.20%) Gross proftrate %6 e Textbook and Media List of Accounts