M3-22 (Algo) Preparing an Income Statement and Calculating Net Profit Margin (LO 3-1, LO 3-5] Required: 1. For each of the following items in Old Time Cable, Incorporated's financial statements, indicate (1) whether it is reported in the income statement or balance sheet and (2) whether it is an asset, liability, stockholders' equity, revenue, or expense account. The first item is given as an example. 2. Old Time Cable also reported $6,140 in operating expenses. Based on the available information, determine the company's net profit margin expressed as a percent. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Old Time Cable also reported $6,140 in operating expenses. Based on the available information, determine the company's net profit margin expressed as a percent. (Round your answer to 1 decimal place.) Net Profit Margin