PA3-3 (Algo) Analyzing the Effects of Transactions Using T-Accounts, Preparing an Unadjusted Trial Balance, and Determining Net Income and Net Profit Margin [LO 3-1, LO 3-2, LO 3-3, LO 3-4, LO 3-5] 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. Received eontributions from investors and issued $230,000 of common stock on April 1 b. Acquired a barn for $180,000. On April 2, the company paid half the amount in cash and signed a three-year note payable for the balance. c. Provided $18,000 in animal care services for customers on April 3, all on credit d. Rented stables to customers who cared for their own animals, recelved cash of 514,000 on April 4 for rent eamed this month. e. On Apni 5, recelved $3,350 cash from a customer to board her horse in Moy. June, and July (record as Deferred Revenue) CPurchased and recelved hay and feed supplies on account on Apes 6 for $3,800. g. Paid $1,860 on accounts poyable on Aprli 7 for previous purchases h. Recelved $2.040 trom customers on April 8 on accoums recelvable. 1. On April 9. prepaid a two-year insurance policy for $4,800 for coverage starting in Moy J. On April 28, poid $1,140 in cash for water and utilities used this month k. Paid 314,800 in wages on April 29 for work done this month 1. Recelved an electric utility bill on April 30 for 51,560 for usage in April, the bill will be paid neat monith Required: 1. Prepare the journal entry for each of the obove transactions 2. Post the transaction activity from requirement 1 to the T.Accounts below. All accounts begin wath zero balances becouse this is the first month of operations. 3. Prepare an unadjusted trial balance as of Apri 30 . 4-a. Refer to the revenues and expenses shown on the unadfusted tral balance. Based on tris information, calculate preliminary net. income and net profit margin. 4-b. Determine whether the net profit margin is better or worse than the 30.0 percent earned by a close compelitor: Complete this question by entering your answers in the tabs below. \&Prev 2 of 2 III Credit Utilitien Expunse Salaries and Wages Expense Req 1 Req 3