Che Hendry's Boutique is a retail clothing store for women. The store operates out of a rented building in Storm Lake, lowa. The following is the store's adjusted year-end trial balance dated December 31, current year. $ 19.590 3.480 25,500 2.610 1.620 51.900 HENDRY'S BOUTIQUE Adjusted Trial Balance December 31, current year Cash Accounts receivable Merchandise inventory Prepaid rent Office supplies Office equipment Accumulated depreciation: office equipment Accounts payable Sales taxes payable Capital stock Retained earnings Sales Sales returns and allowances Cost of goods sold Purchase discounts lost Utilities expense Office supply expense Depreciation expense: office equipment Rent expense Insurance expense Salaries expense Income taxes expense 15 300 16.200 4.020 23.400 33.500 291 000 3.000 135.360 750 6,042 912 4,200 7.860 1,310 108,360 10,926 $ 383,420 $383,420 Required: a. Prepare an income statement for Hendry's Boutique dated December 31, current year. b. Compute the store's gross profit margin as a percentage of net sales. Gross profit margin c. Do the store's customers seem to be satisfied with their purchases? Yes NO