E3-17 (Algo) Analyzing the Effects of Transactions Using T-Accounts and Interpreting the Net Profit Margin Ratio as a Financial Analyst LO3-4, 3-6 Massa Company, which has been operating for three years, provides marketing consulting services worldwide for dot-com companies. You are a financial analyst assigned to report on the Massa management team's effectiveness at managing its assets efficiently. At the start of 2024 (its fourth year), Massa's account balances were as follows. Dollars are in thousands. Accounts payable Accounts receivable Additional paid-in capital Cash Common Stock ($0.10 par value) Consulting Fee Revenue Interest Revenue Long-Term Investments Long-Term Notes Payable $1,500 8,300 3,230 Rent Expense 3,300 Retained earnings 570 Travel Expense 0 Wages Expense 0 Unearned Revenue Utilities expense $7,000 1,600 0 6,700 0 0 5,000 Transactions for 2024: a. Provided $59,400 in services to clients who paid $48,200 in cash and owed the rest on account. b. Received $5,700 cash from clients on account. c. Received $560 in cash as interest revenue on investments. d. Paid $35,000 in wages, $12,500 in travel, $6,800 in rent, and $700 on accounts payable. e. Received $2,000 in cash from clients in advance of services Massa will provide next year. f. Received a utility bill for $640 for 2024 services. g. Declared and immediately paid $340 in dividends to stockholders. Required: 1. Using the data from this list, calculate the amounts for the following on January 1, 2024. 2. Enter the beginning balances and 2024 transactions in the T-accounts. 3. Compute ending balances in the T-accounts to determine amounts for the following on December 31, 2024. 4. Calculate the net profit margin ratio for 2024.