Hendry's Boutique is a clail clothing store for women. The store upcrales 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. LILLY': 901 19L Adjusted Trial Balance December 31, current year Cash Accounts receivable Merchandise Inventory Prepaid rent Office supplies Office equl onant Accurulated depreciation office equipnert Accounts payah Sales taxes payable Capitol stock leidings Sales Sales returns and allowances Cosul excllil Purchase discounts lost Utilities expense Oply - Uopreciation expense: office oquipment Rent expense TSURANCS Salaries expose Incore taxes expense $ 20,790 3,800 29,500 3.010 2,180 54,30 $ 16,200 17, na 4,180 25,000 30,010 308,60 3,280 137,430 1,150 7,018 1,168 5,000 8,340 1,170 110,712 11,902 $ 480,899 190,00 Required: : 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 Other expenses b. Compute the stores gross profit margin as a percentage of net sales Gruss pulit magn c. Do the store's customers seem to be satisfied with their purchases? Yes NO f. When penting the store's musterialblice cose is cling 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 greded as incorrect.) 2 Cash 2 Accounts receivable ? Merchandise inventory 2 Prepaid rent 7 ce supplies