97,600 48,000 113,040 1,093,200 loan payable Common shares Retained earnings Sales Cost of goods sold Administrative expenses Selling expenses Interest expense Interest income Income tax expense 807,600 88,800 39,200 13,500 2,400 18,600 $1,558,000 $1,557,890 (a) Calculate the profit margin and gross profit margin. (Round all amounts to 1 decimal place, s. 5.2%) Gross profit margin 26.1 % Profit margin 9 Credit Monty Wholesale INC. Adjusted Trial Balance December 31, 2021 Debit Cash $12,000 Accounts receivable 19,200 Prepaid insurance 2,200 Inventory 105,400 Supplies 6,300 Land 129,400 Buildings 219,500 Accumulated depreciation-buildings Equipment 96,300 Accumulated depreciation equipment Accounts payable Deferred revenue Refund ability Income tax payable Bank loan payable Common shares Retained earning Sales Cost of goods sold 807 800 $93,600 32,100 59,800 9,700 4,750 3.700 97,600 48,000 113040 1.093200 Type here to search o BH # SAMSUNG EDEBUDGED R T Y 1 F O X C N M - 16/200 7-144000 807800