Che Hendry's Boutique is a retail clothing store for women. The store operates out of a rented building in Storm Lake, Iowa. The following is the store's adjusted year-end trial balance dated December 31, current year. $ 20,790 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 29,500 3,010 2,100 16,100 30.010 300.000 Sales returns and allowances Cost of goods sold Purchase discounts lost Utilities expense office supply expense Depreciation expense office equipment Rent expense Insurance expense Solaries expense Income taxes expense 3.200 137,490 1.150 7.010 1.168 5,000 3,140 1.470 110,712 11.902 Required: .. Prepare an income statement for Hendry's Boutique dated December 31, current year 16+ 6 Next > reyne a. Prepare an income statement for Hendry's Boutique dated December 31, current year. HENDRY'S BOUTIQUE Income Statement For the Year Ended December 31, Current Year Sales D e Less Sales returns and allowances Net sales Other expenses 16 Next > mework 7 Merchandise transactions i Check my 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 ONo f. Which accounts appearing in the store's adjusted trial balance comprise its operating cycle? (You may select more than one answer Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) 2 Cash 7 Accounts receivable Next Check my c. Do the store's customers seem to be satisfied with their purchases? Yes No f. Which accounts appearing in the store's adjusted trial balance comprise its operating cycle? (You may select more than one answer Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) 2 Cash 2 Accounts receivable 2 Merchandise inventory 2 Prepaid rent 2 Office Supplies 1 of 6 !! Next >