ACCOUNTING-In its income statement for the year ended December 31, 2014

In its income statement for the year ended December 31, 2014, Gavin Company reported the following condensed data.Salaries and wages expenses$465,000Loss on disposal of plant assets$ 83,500Cost of goods sold987,000Sales revenue2,210,000Interest expense71,000Income tax expense25,000Interest revenue65,000Sales discounts160,000Depreciation expenses310,000Utilities expense110,000Prepare a multiple-step income statementCalculate the profit margin and gross profit rate.**could you answer this in the next 10 minutes? I have a deadline, thanks

 

 

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