Given the transactions in M3- 6 and M3- 7 (including the examples), prepare an income statement for Bill€™s Extreme Bowling, Inc., for the month ended July 31. (This income statement would be considered €œpreliminary€ because it uses unadjusted balances.) What is the company€™s net profit margin, expressed as a percent (to one decimal place)?

M3-6

M3-7

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Transaction Assets Libilities Stockholders Equity a. Bil's paid $1.500 to plumbers for repairing a broken -1,500 NE Repairs Expense (+E-1.500 pipe in the restrooms. b. Bil's paid $2,000 for the June electricity bili and received the July bill for $2.500, which will be paid in August. c. Bill's paid$5,475 to employees for work in July. Transaction Assets Liabilities Stockholders' Equity a. Bill's collected $12000 from customers for services Service Revenue+R12000 +12.000 NE related to games played in July. b. Bills billed a customer for $250 for a party held at the center on the last day of July. The bil is to be paid in August. c The men's andwomen's bowling leagues gave Bills advance payments totaling $1,500 for the fall season that starts in September. d. Bill's received $1,000 from credit sales made to custom ers last month (in June) Transaction Assets Libilities Stockholders Equity a. Bil's paid $1.500 to plumbers for repairing a broken -1,500 NE Repairs Expense (+E-1.500 pipe in the restrooms. b. Bil's paid $2,000 for the June electricity bili and received the July bill for $2.500, which will be paid in August. c. Bill's paid$5,475 to employees for work in July.