2 5 9 Carla Vista Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May. Carla Vistas' ledger showed Cash of $9,000 and Common Stock of $9,000. May 1 Purchased merchandise on account from Black Wholesale Supply for $9,000, terms 1/10,1/30. Sold merchandise on account for $5,400, terms 2/10, 1/30. The cost of the merchandise sold was $4,300. Received credit from Black Wholesale Supply for merchandise returned $200. Received collections in full, less discounts, from customers billed on May 2. 10 Paid Black Wholesale Supply in full, less discount. 11 Purchased supplies for cash $900. 12 Purchased merchandise for cash $4,000. 15 Received $230 refund for return of poor quality merchandise from supplier on cash purchase. 17 Purchased merchandise from Wilhelm Distributors for $3,400, terms 2/10, 1/30. 19 Paid freight on May 17 purchase $250. 24 Sold merchandise for cash $5,500. The cost of the merchandise sold was $4,100. 25 Purchased merchandise from Clasps Inc. for $800, terms 3/10, 1/30. Paid Wilhelm Distributors in full, less discount 29 Maderefunds to cash customers for returned merchandise $108. The returned merchandise had cost $96. Sold merchandise on account for $1.280, terms n 30. The cost of the merchandise sold was $816, 27 31 Post the transactions to T-accounts. Be sure to enter the beginning cash and common stock balances. (Post entries in the order of journal entries posted in part (a). Round answers to decimal places, eg. 5,275.) Cash Accounts Receivable to search I Inventory Supplies Accounts Payable e Textbook and Media List of Accounts Prepare an income statement through gross profit for the month of May 2022. (Round answers to decimal places, eg. 5,275.) CARLA VISTA HARDWARE STORE Income Statement (Partial) e Textbook and Media List of Accounts X Your answer is incorrect. Calculate the profit margin and the gross proftrate. (Assume operating expenses were $1,440.) (Round answers to 1 decimal place, eg. 15.5%) Profit margin % Gross proftrate 9 e Textbook and Media List of Accounts Save for Later Attempts: 2 of 15 used Submit