Blossom Hardware Store completed the following merchandising transactions in the month of May. At the beginning Cash of $8,200 and Common Stock of $8,200. May 1 Purchased merchandise on account from Black Wholesale Supply for $8,200, terms 1/10,n/30. 2 Sold merchandise on account for $4,600, terms 2/10,n/30. The cost of the merchandise sold was $3,500. 5 Received credit from Black Wholesale Supply for merchandise returned $200. 9 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 $3,200. 15 Received $230 refund for return of poor-quality merchandise from supplier on cash purchase. 17 Purchased merchandise from Wilhelm Distributors for $2,600, terms 2/10,n/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, n/30. 27 Paid Wilhelm Distributors in full, less discount. 29 Made refunds to cash customers for returned merchandise $108. The returned merchandise had cost $81. 31 Sold merchandise on account for $1,280, terms n/30. The cost of the merchandise sold was $769. Account Titles and Explanation (To recorded (To record Sales) Textbook and Media List of Accou the tractions to t he bringshand b al Puerto Supplies Accounts Payable Common Stock Sales Revenue Sales Returns and Allowances Sales Discounts Cost of Goods Sold Prepare an income statement through grass grot for the month of May 2022Round answers to decimal places.es 5275.) BLOSSOM HARDWARE STORE Income Statement (Partial) e Textbook and Media List of Accounts Calculate the profit margin and the gross proftrats. Assums operating expenses were $1.456. Round answers to 1 decimal places 15.5%) Profit margin Gross profitrate e Textbook and Media List of Accounts