At year-end, a trial balance showed total credits exceeding total debits by $5,950. This difference could have been caused by: Multiple Choice An error in the general journal where a $5,950 increase in Accounts Receivable was recorded as an increase in Cash A net income of $5,950 The balance of $59,500 in Accounts Payable being entered in the trial balance as $5,950 The balance of $6700 in the Office Equipment account being entered on the trial balance as a debit of $750 An error in the general journal where a $5,950 increase in Accounts Payable was recorded as a decrease in Accounts Payable. Jeff Jackson opened Jackson's Repairs on March 1 of the current year. During March, the following transactions occurrec 1. Jackson invested $33,000 cash in the business in exchange for common stock 2. Jackson contributed $108,000 of equipment to the business. 3. The company paid $2,800 cash to rent office space for the month of March. 4. The company received $24,000 cash for repair services provided during March. 5. The company paid $7,000 for salaries for the month of March. 6. The company provided $3,800 of services to customers on account. 7. The company paid cash of $1,300 for utilities for the month of March. 8. The company received $3,900 cash in advance from a customer for repair services to be provided in April. 9. The company paid $5,800 in cash dividends. Based on this information, net income for March would be: Multiple Choice $16700 $21,400 $6100 $7600 $21.500 A company had $6,980,000 in net income for the year. Its net sales were $15,000,000 for the same period. Calculate its profit margin Multiple Choice 114.9% 46.5 % 930% 23.3 % 214.9%