Calculate the profit margin. Profit margin = Net Income/Net Sales

Please see Below account information:

5 Star Cleaning Service Closing Entries Date Account Debit Credit 31-Oct $ 8,075 Service Revenue Income Summary (To close revenue account) $ 8,075 31-Oct $ 5,207.33 $ $ 500 2,095 980 $ Income Summary Utilities Expense Salary Expense Income Tax Expense Insurance Expense Depreciation Expense Supplies Expense Rent Expense To close expense accounts) $ 458 879 $ $ 87 208.33 $ 31-Oct $ 2,867.67 Income Summary Owner's Capital (To close net income to capital) $ 2,867.67 31-Oct $ 1,200 Owner's Capital Owner's Drawings (to close drawings to capital) $ 1,200 5 Star Cleaning Service Post-Closing Trial Balance October 31, 2019 Cash Accounts Receivable Supplies Prepaid Insurance Expense Vehicle Accumulated Depreciation - Vehicle Accounts Payable Salary Payable Owner's Capital Prepaid Rent Inventory Social Security Payable Federal Withholding Payable State Withholding Payable Medicare Payable Discount on Notes Payable Unearned Service Revenue Income Tax Payable Notes Payable $ 16,618.00 $ 2,125.00 $ 388.00 $ 5,042.00 $ 11,000.00 $ 879.00 $ 17,145.00 $ 18.00 $ 23,667.67 $ 2,291.67 $ 8,320.00 $ 164.00 $ 133.00 $ 105.00 $ 15.00 $ 422.00 $ 925.00 $ 980.00 $ 2,175.00 $ 46,206.67 $ 46,206.67 5 Star Cleaning Service Closing Entries Prepaid Rent 1-Oct $ 2,500.00 31-Oct $ $ 2,291.67 Utilities Expense 500.00 31-Oct $ 208.33 500.00 1-Octs $ Bal. Bal. Cash 1-Oct $22,000.00 18-Oct $ 3,250.00 22-Oct $ 925.00 26-Oct $ 1,753.00 30-Oct $ 2,700.00 1-Oct $ 2,500.00 1-Oct$ 5,500.00 7-Oct $ 1,128.00 15-Oct$ 3,000.00 24-Oct $ 532.00 26-Oct $ 150.00 31-Oct $ 1,200.00 31-Oct $ Salary Expense 7-Oct $ 1,545.00 31-Oct $ 2,095.00 31-Octs 550.00 $ Supplies 475.00 388.00 87.00 13-Oct $ $ Bal. Bal 10/31 Bal. $ 16,618.00 Inventory 18 Oct $ 8,320.00 $ 8,320.00 Bal. Prepaid Insurance Expense 1-Oct $ 5,500.00 31-Oct $ $ 5,042.00 458.00 Accounts Payable 26-Octs 150.00 1-Octs 500.00 13 Oct $ 475.00 15-Oct $ 8,000.00 18-Oct $ 8,320.00 10/31 Bal. $ 17,145.00 Bal Accounts Receivable 27-Oct$ 4,200.00 30-Oct $ 2,700.00 31-Oct $ 625.00 $ 2,125.00 Bal. Vehicles 15-Oct $11,000.00 10/31 Bal $11,000.00 10/31 Owner's Capital $ 1,200.00 1-Oct $ 22,000.00 31-Oct $ 2,867.67 Bal. $ 23,667.67 Social Security Payable 7-Oct $ Bal S 164.00 164.00 Salary Payable 24-Oct $ 532.00 31-Oct $ 10/31 Bal. $ 550.00 18.00 Federal Withholding Payable 7-Octs Bal. $ 133.00 State Withholding Payable 7-Octs Bal. $ 105.00 105.00 133.00 10/31 Bal. Owner's Drawings $ 1,200.00 31-Oct $ 1,200.00 $ Discount on Notes Payable $ 422.00 S 422.00 10/26 Bal. 10/31 Medicare Payable 7-Oct $ Bal. $ Service Revenue $ 8,075.00 18-Oct$ 3,250.00 27-Oct$ 4,200.00 31-Oct $ 625.00 Bal. $ 15.00 15.00 Income Tax Expense 31-Oct $ 980.00 31-Octs $ 980.00 Bal Unearned Service Revenue 22-Octs Bal. $ 925.00 925.00 458.00 Insurance Expense $ 458.00 31-Oct $ $ 10/31 Bal. Notes Payable 26-Oct $ 2,175.00 Bal. $ 2,175.00 Income Tax Payable 31-Oct $ Bal. $ 980.00 980.00 87.00 Supplies Expense $ 87.00 31-Octs $ 10/31 Bal. Accumulated Depreciation - Vehicle 31-Oct $ 879.00 Bal. $ 879.00 Depreciation Expnese $ 879.00 31-Oct $ $ Rent Expense 208.33 31-Oct $ 879.00 10/31 Bal. 208.33 10/31 Bal. $ $ 10/31 10/31 Income Summary $ 5,207.33 31-Oct $ 8,075.00 $ 2,867.67 Bal. $ 5 Star Cleaning Service Ledger Balance Sheet October 31, 2019 Assets Current Assets Cash Accounts Receivable Inventory Supplies Discount on Notes Payable Prepaid Rent Prepaid Insurance Expense Total Current Aasets Fixed Assets Vehicle Less Accumulated Depreciation - Vehicle $ $ $ $ $ $ $ 16,618.00 2,125.00 8,320.00 388.00 422.00 2,291.67 5,042.00 $ 35,206.67 $ 11,000.00 $ 879.00 $ 10,121.00 45,327.67 $ Liabilities and Owner's Equity Current Liabilities Accounts Payable Unearned Service Revenue Salary Payable Social Security Payable Federal Withholding Payable State Withholding Payable Medicare Payable Notes Payable Income Tax Payable Total Current Liabilities Owner's Equity Owner's Capital Total Liabilites and Owner's Equity $ $ $ $ $ $ $ $ $ 17,145.00 925.00 18.00 164.00 133.00 105.00 15.00 2,175.00 980.00 $ 21,660.00 $ $ 23,667.67 45,327.67 5 Star Cleaning Service Ledger Owner's Equity Statement For the Month Ended October 31, 2019 $ Owner's Capital, October 1 Add Investments Net Income / (Loss) $ $ 22,000.00 2,867.67 $ $ $ $ 24,867.67 24,867.67 1,200.00 23,667.67 Less Drawings Owner's Capital, October 31 5 Star Cleaning Service Ledger 8,075.00 Income Statement For the Month Ended October 31, 2019 Revenues Service Revenue $ Expenses Utilities Expense $ 500.00 Salary Expense $ 2,095.00 Income Tax Expense $ 980.00 Insurance Expense $ 458.00 Depreciation Expense $ 879.00 Rent Expense $ 208.33 Supplies Expense $ 87.00 Total Expenses $ Net Income /(Loss) $ 5,207.33 2,867.67