I need help with P5-8A...

als Sales eclined in fiscal 2017. Does that payable 15,000 (a) rofit rate, necessarily mean that profitability, as measured by the for each fiscal year to help also declined? Explain, calculating the gross profit rate p5.8A At the beginning of the support your answer. (Round to one decimal place.) Journalize, post, and prepare current season, the ledger of Village Tennis Shop AG showed ing sactions 1,7oo, and share Capital-ordi nary CHF4,200. he follow- trial balance and partial transa were completed during April. income statement using Apr. 4 Purchased racquets and balls from Hingis periodic approach 6 Paid freight Co Co. CHF860, terms 3/10, m/30. (LO 7) 8 sold on Hingis purchase CHF74. 10 to members n Received credit of CHF60 from Hingis Co. for a racquet that was returned. 13 Purchased tennis shoes from Volker Sports for cash Paid Hingis in 14 Purchased tennis shirts and shorts from Lin Sportswear CHF700, terms 2/10, n/60. 15 Received cash refund of CHF90 from Volker Sports for damaged merchandise that was returned. 17 Paid freight on Linzey Sportswear purchase CHF25 18 sold merchandise to members CHF1,200, terms n/30. 20 Received CHF500 in cash from members in settlement of their accounts. 21 Paid Linzey Sportswear in full. 27 Granted an allowance of CHF25 to members for tennis clothing that did not fit properly. 30 Received cash payments on account from members CHF630