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Spicewood Stables, Incorporated, was established in Dripping Springs, Texas, on April 1. The company provides stables, care for animals, and grounds for riding and showing horses. You have been hired as the new assistant controller. The following transactions for April are provided for your review. a. Receved contributions from investors and issued $170,000 of common stock on April 1 b. Acquired a barn for $233,000. On April 2, the company paid half the amount in cash and signed a three-year note payable for the balance c. Provided $18,500 in animal care services for customers on April 3, all on credit. d. Rented stables to customers who cared for their own animals; received cash of $17,000 on April 4 for rent earned this month. e. On April 5, received $3,650 cash from a customer to board her horse in May, June, and July (record as Deferred Revenue). Purchased and received hay and feed supplies on account on April 6 for $4,400. g. Paid $3,140 on accounts payable on April 7 for previous purchases. h. Received $1,340 from customers on April 8 on accounts receivable. On April 9, prepaid a two-year insurance policy for $5,000 for coverage starting in May. On April 28, paid $1,700 in cash for water and utilities used this month. k. Paid $14,300 in wages on April 29 for work done this month. 1. Received an electric utility bill on April 30 for $2,120 for usage in April, the bill will be paid next month, Required: 1. Prepare the journal entry for each of the above transactions. 2. Post the transaction activity from requirement 1 to the T-Accounts below. All accounts begin with zero balances because this is the first month of operations. 3. Prepare an unadjusted trial balance as of April 30 4-a. Refer to the revenues and expenses shown on the unadjusted trial balance. Based on this information, calculate preliminary net Income and net profit margin. 4-6. Determine whether the net profit margin is better or worse than the 30.0 percent earned by a close competitor Cash Accounts Receivable Credit Credit Debit Beginning Balance Dobit Beginning Balance (a) (0) co th) OOOO Ending Balance Ending Balance Dupplies Prepaid truc Credit Credit Debit Seginning Balance Dobin Beginning Balance Ending Balance Ending Balance Buildings Accounts Payable Credit Credit Debit Beginning Balance Debit Beginning Balance Ending Balance Ending Balance Deferred Revenue Notes Payable long-term Credit Cred Dobit Beginning Balance Debi Beginning Balance Ending Balance Ending Balance Common Stock Service Revenue Credit Credit Debit Beginning Biance Debit Beginning Balance Ending Balance Ending Balance Rent Revenue Utilities Expo Credit Credit Debit Beginning Balance Dell Beginning balance Ending Balance Ending Balance Salaries and Wages Expo Debit Credit Begining Bilance Ending SPICEWOOD STABLES, INCORPORATED Unadjusted Trial Balance Debit Credit Cash Accounts Receivable Supplies Prepaid Insurance Buildings Accounts Payable Deferred Revenue Notes Payable (long-term) Common Stock Service Revenue Rent Revenue Utilities Expense Salaries and Wages Expense Total $ 0 $ 0 Preliminary Net Income Net Profit Margin % Determine whether the net profit margin is better or worse than the 30.0 percent earned by a close competitor. Better Worse