1. Prepare the income statement

2. Prepare the owner's equity

3. Prepare the balance sheet

4. Calculate the gross profit margin and profit margin. (Round answers to 1 decimal place, e.g. 52.7%.)

An alphabetical list of Sunland Company adjusted accounts at its fiscal year end, August 31, 2024, follows. All accounts have normal balances. Additional information: 1. Of the notes payable, $6,700 becomes due on February 17, 2025. The balance is due in 2026. 2. On July 18,2024,R. Wilson invested $3,700 cash in the business. Prepare a multiple-step income statement. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)