Brian \& Taylor, a consulting firm, specializes in providing internal audit services for its clients. It bills the clients $170 per hour for its professional services; it costs the firm $95 per hour to cover the cost of its staff. To cover its MOH costs, the partners have always applied MOH costs to dients based on total direct labor hours. At the beginning of the year, they budgeted for 9500 direct labor hours and $190,000 of MOH costs. In the current year, the firm's professional staff WOrked on three key client projects: All Ways, Inc., for 4,000 hours; My Way, Inc, for 3,500 hours; and High Way, Inc, for 5,700 hours. These clients were billed for this work by the end of the year. Naturally, there were other costs incurred to run the firm, including sales and marketing costs, which added up to $140,000 this year: Actual MOH costs for the year totaled $150,000. Show the effects of the labor and MOH costs through Taccounts for the company's irventory and Cost of Sales accounts. (FPor balances besinninglandive in 0 select "Bes. Bal," and "End Bol." for the date ond a for the amoumts for the balonae of the acoount) Show the effects of the labor and MOH costs through T-accounts for the companys inventory and Cost of Sales accounts. (For . ahatwilkaline in 0 sefect "Beg. Bal." and "End Bol." for the date and O for the amounts for the bolance of the acoount.) FG Inventory (b) Prepare an income statement for the firm for the current year. Determine the gross margin percentage and the profit margin percentage. (Round answers to 2 decimol places teg 5275% ) Grossmarginpercentage % Profitmargin percentage %