An alphabetical list of Sunland Company adjusted accounts at its fiscal year end, August 31, 2024, follows. All accounts have normal balances.

Accounts payable		$15,530		Notes payable		$42,000
Accumulated depreciationequipment		14,000		Prepaid insurance		575
Accumulated depreciationfurniture		17,500		R. Lewis, capital		65,750
Cash		9,450		R. Lewis, drawings		79,000
Cost of goods sold		272,060		Rent expense		24,900
Depreciation expense		7,040		Salaries expense		50,900
Equipment		35,000		Salaries payable		2,250
Furniture		42,000		Sales		465,000
Insurance expense		3,575		Sales returns and allowances		19,000
Interest expense		3,150		Supplies		950
Interest payable		545		Supplies expense		6,325
Merchandise inventory		71,250		Unearned revenue		2,600

Additional information: 1. Of the notes payable, $6,300 becomes due on February 17, 2025. The balance is due in 2026. 2. On July 18, 2024, R. Lewis invested $3,500 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).)

Prepare a statement of owners equity. (List item that increases Owner's Equity first.)

Prepare a classified balance sheet. (List Current Assets in order of liquidity. List Property, Plant, and Equipment in order of Equipment and Furniture.)

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

Gross profit margin		enter percentages rounded to 1 decimal place %
Profit margin		enter percentages rounded to 1 decimal place %