a. Swing Hard collected $25,800 from customers for lesson services provided in February. b. Swing Hard sold a gift card for golf lessons for $200 cash in February. c. Swing Hard received $6,300 from credit sales made to customers in January. d. Swing Hard collected $4,800 in advance payments for golf lessons to start in June. e. Swing Hard billed a customer $225 for services provided between February 25 and February 28. The bill is to be paid in March. f. Swing Hard paid $6,400 for wages to its golf instructors for the month of February. g. Swing Hard paid $2,800 for electricity used in the month of January. h. Swing Hard received an electricity bill for $1,680 for the month of February, to be paid in March. 1. Prepare an income statement for Swing Hard Incorporated for the month ended February 28. (This income statement would be considered "preliminary" because it uses unadjusted balances.) SWING HARD INCORPORATED Income Statement For the Month Ended February 28 Revenues Service Revenue Total Revenues Expenses Utilities Expense Salaries and Wages Expense Total Expenses Net Income 2. $ 26,025 26,025 1,680 6,400 8,080 $ 17,945 What is the company's net profit margin, expressed as a percent? (Round your answer to 1 decimal place.)