Income statement 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 Rs at the end of 2019, 524,200 $195,600 933,000 Advertising expense Depreciation expense con service van Income tax expense Interest expense Rent expense Insurance expense 16.250 15.150 10,100 50.400 11.900 Salaries expense (for administrative personnel) Service revenue Supplies expense Utapen Wages expense (for service technicians) 26.100 40,300 1. Prepare a single-step income statement for ERS for 2019. Note: For grouped values (e.g. revenues or expenses), enter individual amounts as positive values. If the total for the group is subtracted or a overall negative amount, enter using a minus sign. ERS Inc. Income Statement For the Year Ended December 31, 2019 Revenues Expenses: 1111111 Total expenses 2. Conceptual Connection: Computent profit margin for URS. Round your answer to one decimal place. 11 ERS is able to increase its service revenue by $100,000, what should be the effect on future income? 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% for 2018. As an investor, what conclusions might you draw about ERS' future profitability? A declining profit margn implies that CRS is