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Presented below is information for K. Robson Co. for the month of March 2020. Cost of...

Presented below is information for K. Robson Co. for the month of March 2020. Cost of goods sold $212,000 Freight-out $ 7,000 Insurance expense 12,000 Salaries expense 34,500 Rent expense 32,000 Sales discount 17,000 Sales return and allowances 45,000 Sales revenue 370,000 Instructions (in color): A. Prepare a multi-step income statement. Assume a 25% tax rate. B. Calculate the profit margin and the gross profit rate (make sure final answer is 2 decimals as a %)

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