ERS Inc. maintains and repairs office equipment. ERS had an average of 10,000 shares of common stock outstanding for the year. The following income statement account balances are available for ERS for the year ended December 31 . 1. Prepare a single-step income statement for ERS. 2. Conceptual Connection: Compute net profit margin for ERS. Round your answer to two decimal places. If ERS had an incremental increase in revenue of $100,000, based on the net profit margin computed, what is the additional potential profit? 3. Conceptual Connection: Assume that ERS' net profit margin was 8.5% in the previous year. As an investor, what conclusions might you draw about ERS' future profitability? A declining profit margin implies that ERS is