M3-22 Preparing an Income Statement and Calculating Net Profit Margin (LO 3-1, LO 3-4, LO 3-5) Required: 1. For each of the following items in Old Time Cable, Inc.'s financial statements, indicate (1) whether it is reported in the incom statement (1/S) or balance sheet (B/S) and (2) whether it is an asset, liability, stockholders' equity, revenue, or expense accou first item is given as an example. 2. Old Time Cable also reported $5,440 in operating expenses. Based on the available information, determine the company's margin expressed as a percent. Complete this question by entering your answers in the tabs below. Required 1 Reguiled 2 Old Time Cable also reported $5,440 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 96