View Policies Current Attempt in Progress Presented below is information for Ivanhoe Company for the month of January 2022 Cost of goods sold Freight-out Insurance expense Salaries and wages expense $290,000 Rent expense 7,400 Sales discounts 12,500 Sales returns and allowances 41.000 Sales revenue $34,000 5.200 13,000 437,000 Prepare a multiple-step Income statement IVANHOE COMPANY Income Statement Calculate the profit margin and the gross proftrate (Round answers to 2 decimal places 15.25.) Profit margin Gross profit rate